Angelalign Partners with Controlling Shareholder Primes Capital to Establish Joint Venture Focused on Global Digital Orthodontics Innovation
ANGELAIGN
Dental Medical Consumables Supplier and Service Provider
Editor’s Note: This article is republished from Gelonghui with authorization granted to VCBeat.
ANGELAIGN (06699.HK) announced that on January 28, 2022, the Company and certain affiliates of its controlling shareholder, Shuangbai Investment Group, entered into a partnership agreement. Pursuant to this agreement, the Company and Shuangbai Investment Group agreed to jointly establish a limited partnership, CareCapital Aligner Tech L.P., to invest in innovative digital technologies and products related to global orthodontic diagnosis and treatment.
The Company will serve as the sole limited partner of the Partnership and has agreed to contribute an aggregate amount in US dollars equivalent to HK$100 million to the Partnership. CCFounder Holdings LLC (a holding company of Shubai Investment Group) will act as the general partner, responsible for the management of the Partnership and future investments, and has agreed to contribute an aggregate amount in US dollars equivalent to HK$10 million to the Partnership. Shubai Investment Group and its affiliates will not charge any management fees or performance-based compensation (including carried interest).
The partnership will enable the Company to benefit from integration into Songbo Investment Group’s global dental network and to participate in co-investments in innovative and synergistic technology and business projects within the digital orthodontics value chain led by Songbo Investment Group.
Songbai Investment Group is a leading investment and operating group and a renowned key opinion leader in the global dental and oral care industry. By leveraging its extensive resources and investment expertise, the Board believes that the Company will be able to benefit from this cooperation and investment, expanding its business scope and synergies across the entire industrial value chain to better achieve its goal of serving dentists and orthodontic patients.