BEIJING—Starbucks on Monday said it has entered a strategic partnership with investment firm Sequoia Capital China that will see the two companies make strategic co-investments in China’s technology sector.
Sequoia Capital China is an affiliate of the U.S. venture capital firm Sequoia Capital.
The U.S.-based coffee giant said in a statement that the partnership will create opportunities for it to evolve its business in China and the two will also be able to obtain early access to ideas in the retail marketplace.
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The world’s biggest coffee chain has reopened most of its stores in China, where the Chinese Communist Party (CCP) virus appears to be slowing.
