Mubadala Investment Company has agreed to make a significant minority investment in Luckin Coffee alongside Centurium Capital, the coffee company’s controlling shareholder, in a transaction with an aggregate value of approximately $1 billion.
The investment deepens Mubadala’s exposure to China’s consumer sector as the country’s coffee market continues to expand, supported by increasing adoption of freshly brewed coffee and higher consumption frequency among existing coffee drinkers.
Luckin Coffee has built a technology-driven retail platform that integrates digital customer engagement, product development, store operations and supply-chain capabilities.
Mubadala said Luckin’s combination of scale, digital capabilities and rapid product innovation has allowed the company to respond quickly to changing consumer preferences.
The transaction also extends Mubadala’s existing relationship with Centurium Capital, which controls Luckin Coffee. Centurium is a China-focused private equity firm investing primarily across consumer, healthcare and technology businesses.
Luckin Coffee was founded in 2017 and has grown into one of China’s largest coffee platforms through a model emphasizing convenience, digital engagement and rapid store expansion.
As of June 30, 2026, Luckin operated more than 36,000 stores globally and was approaching 500 million cumulative transacting customers.
The company’s operating model combines an extensive physical store network with a digital platform that supports customer acquisition and engagement, product development and integrated supply-chain management.
The investment gives Luckin another large global institutional investor as it continues expanding both within China and internationally.
Mubadala manages a global portfolio valued at approximately $385 billion across six continents and multiple industries and asset classes.
Centurium Capital, founded in 2017, manages approximately $7 billion and focuses primarily on control and joint-control investments in China. The firm uses an operation-focused investment strategy that it describes as its “Control & Operate” model.
The Luckin Coffee transaction remains subject to customary closing conditions.
KEY QUOTES:
“We continue to see compelling long-term opportunities in China’s consumer sector. Luckin Coffee has built a differentiated, technology-enabled business with data embedded across customer engagement, product development and store operations. The combination of scale, digital capabilities and rapid product innovation has enabled the Company to respond to evolving consumer preferences efficiently and at pace. Building on our longstanding partnership with Centurium, we look forward to working alongside Luckin Coffee’s management team to support the Company’s next phase of growth in China and internationally.”
Mohamed Albadr, Head of Asia, Private Equity at Mubadala
“We are pleased to welcome Mubadala as an investor in Luckin Coffee. We are confident that Mubadala’s sector knowledge combined with its global perspective and network will support Luckin Coffee’s continued innovation and long-term development.”
Michael Chen, Partner at Centurium Capital
