Chinese VC QY Capital has led a US$40 million Series C in the US sportswear brand STARTER.
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The round was joined by the company’s existing investors Sequoia Capital China, private equity firm M31 Capital and clothing brand Dazzle Fashion. Investment bank Cygnus Equity served as financial advisor for the deal.
Established in 1971, STARTER manufactures and sells sports clothing with a focus on major league sports teams. Its products have been used by professional athletes and organisations in basketball, football, baseball, hockey and college leagues.
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In 2019, the brand entered the Chinese market and has rolled out clothing and accessories for Chinese customers. In 2021, STARTER opened nearly 100 stores in China, mainly in first-tier cities like Beijing, Shanghai, Guangzhou, and Shenzhen.