China Distiller Jiangxiaobai Is Said to Raise $300 Million (1)

Chinese liquor distiller Chongqing Jiangxiaobai Liquor Co. has raised about $300 million from investors in a fresh funding round, according to people familiar with the matter.

China Renaissance Holdings Ltd. led the funding round for the company, the people said, asking not to be identified as the matter is private. Baillie Gifford & Co. and China Merchants Bank International Capital Corp. were among the investors who participated in the round, they said.

The round gave Jiangxiaobai a pre-funding valuation of roughly $1.6 billion, one of the people said.

Jiangxiaobai produces baijiu, a sorghum-based spirit that is extremely popular in China, ...