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Bain Capital Private Equity leads Newlink’s $200 million fundraising

March 22, 2021

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Bain Capital Private Equity leads Newlink’s $200 million fundraising

Hong Kong, March 22, 2021– Bain Capital Private Equity today announced that it has led the $200 million strategic investment into Newlink Group (“Newlink”), a leading technology platform in China’s energy sector. 

Founded in 2016, Newlink is a fast-growing online technology platform that helps match drivers in China with the best gas stations and charging piles. The company’s solutions also help both gas station and electric vehicle charging station owners drive incremental sales, reduce procurement costs, manage operations and grow profits. 

Newlink is the undisputed leader in China’s energy technology sector. Through its two leading apps “Tuanyou” and “Kuaidian”, Newlink targets to serve the 400 million drivers in China, leveraging its network of 23,000 gas stations (20% of total number of gas stations in China) and 700,000 charging piles (90% of total number of EV charging piles in China) in 1,700 cities and towns across the country.

Newlink’s supply chain network will reduce inefficiencies in traditional gas stations and charging stations’ purchasing process. Newlink SaaS will digitize the entire operation of partner stations with its suite of SaaS, payment and IoT solutions. The company also plans to convert some independent gas stations into Newlink branded “Energy Service Hubs” that include gas stations, EV charging piles, auto maintenance services and convenience stores.

Bain Capital’s strategic investment underlines its aspiration to support Newlink in transforming China’s RMB3 trillion underlying energy market. The investment will be used to accelerate the adoption of Newlink’s two leading apps, R&D on technology solutions and continued expansion of EV charging network.  

Drew Chen, Managing Director of Bain Capital Private Equity, said, “We are excited to partner with Newlink and its talented management team. Through innovative technology solutions, we hope Newlink can help accelerate the digitization efforts of China’s energy ecosystem, and support China’s transition to a low carbon economy by improving efficiency and promoting the shift to electric vehicles. We look forward to leveraging our deep operational expertise in the industrial sector globally to support and grow the company’s businesses.”

Zhen Dai, Founder and Chairman of Newlink, said, “The strategic partnership with Bain Capital is an important step towards realizing Newlink’s ambition to transform the energy industry and build a greener society. Improved efficiency in the energy market will benefit producers, distributors and users from a cost perspective. It will also reduce carbon emissions, taking us a step further towards creating a more environmental-friendly society.”

Bain Capital has extensive experience in supporting the growth of energy companies. In 2005, Bain Capital invested in Fleetcor, the largest energy technology platform in the United States, and supported the company’s listing on the New York Stock Exchange in 2010. 

About Bain Capital Private Equity

Bain Capital Private Equity (www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of approximately 240 investment professionals create value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has offices in Boston, Chicago, New York, Palo Alto, San Francisco, Dublin, London, Luxembourg, Madrid, Munich, Guangzhou, Melbourne, Mumbai, Hong Kong, Seoul, Shanghai, Sydney and Tokyo. The firm has made primary or add-on investments in more than 875 companies since its inception. In addition to private equity, Bain Capital invests across asset classes including credit, real estate, public equity and venture capital, managing more than USD 120 billion in total and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.