Huaxia Dairy Farm has received a $106 million (CNY658 million) investment from a PE consortium led by GIC and Olympus Capital Asia, with participation from Grand River Capital and others. GIC is investing $70 million (CNY435 million), while Olympus' share is $30 million (CNY186 million), with Grand River and others contributing the remainder. With this latest financing, Olympus Capital has now invested a total of $108 million (CNY671 million) in the company, and is its largest shareholder. Established in 2004, Huaxia currently operates three dairy farms just outside of Beijing, with over 13,500 cows. It is currently building a fourth farm; proceeds from the financing will be used to further develop the company's tech, import additional heifers and drive expansion of its Wondermilk brand.