B&C Chemical Valuation, Funding & Investors

B&C Chemical is valued at $1B as of April 2023.

Last B&C Chemical valuation

$1B

Series C · Apr 2023

Last B&C Chemical funding round

$87M

Series C · Apr 2023

Cumulative funding B&C Chemical raised

$133M

across 2 funding rounds

Key investors in B&C Chemical

  • Qingsong Fund
  • China Development Bank Capital
  • V Fund Management
  • Suzhou International Development Venture Capital
  • Huawei Hubble
  • Zhongping Capital

B&C Chemical Overview

About B&C Chemical

B&C Chemical is a China-based developer and producer of semiconductor photoresists including ArF, KrF, G-line, I-line, and electron beam variants for integrated circuit fabrication. The company manufactures monomers, resins, photoacids, and finished resists used in advanced nodes for logic chips, memory, and power devices. Facilities in Shanghai support the domestic supply chain for backend packaging and compound semiconductors. Established in 2010, B&C Chemical supplies foundries like SMIC and equipment makers amid China's push for materials self-sufficiency.


Founded

2010

HQ

ChinaPizhou

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$1B (Apr 2023)

Sectors

B&C Chemical Valuation

B&C Chemical is currently valued at $1B, based on its Series C in April 2023.

The $87M round was led by China Development Bank Capital and Zhongping Capital, with participation from Shandong Railway Fund, Foshan Hengluan, Wuhan Zesen Capital, Shenzhen Qianhai Sirui, Suzhou International Development Venture Capital and 6 other investors.

B&C Chemical's valuation has grown 2.2x from $463M at its undisclosed-stage round in August 2021 to $1B in April 2023, across 2 priced rounds.

B&C Chemical valuation by funding round

B&C Chemical valuation by funding round
DateStageValuation
Apr 2023Series C$1B
Aug 2021Undisclosed stage$463M

B&C Chemical Funding History

B&C Chemical has raised a total of $133M across 2 funding rounds.

B&C Chemical's first fundraising round was a $46M undisclosed-stage round in August 2021. The most recent completed round was a $87M Series C in April 2023.

B&C Chemical funding rounds

B&C Chemical funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Apr 2023Series CChina Development Bank Capital (lead); Zhongping Capital (lead); Shandong Railway Fund; Foshan Hengluan; Wuhan Zesen Capital; Shenzhen Qianhai Sirui; Suzhou International Development Venture Capital; Qingfeng Capital; Wuxi Industrial Jufeng; Qingsong Fund; Hunpu Investment; Huizhi Industrial Investment; V Fund Management$87M$1BB&C Chemical is a China-based company that raised $87.13 million in a Series C-III funding round on April 19, 2023. The round was led by multiple investors including private equity and asset management firms based in China and Hong Kong. This was the company's third Series C tranche in 2023, following a Series C-II round on March 28, 2023. Over its funding history, B&C Chemical has raised $176.91 million across 8 rounds from 22 investors.
Aug 2021Undisclosed stageHuawei Hubble (lead)$46M$463MXuzhou B&C Chemical is a Chinese company founded in 2010 that manufactures semiconductor materials, particularly photoresists. In August 2021, it completed a 300-million-yuan (approximately $43.5-46.3 million) investment round from Huawei-linked Hubble Technology Investment (also referred to as Huawei Hubble). This was labeled as Series B - II in some records. The company has raised multiple rounds totaling about $176.91M across 8 fundings, including earlier corporate minority in January 2021 and later Series C rounds in 2022-2023. A subsequent round in April 2023 (Series C - III) raised $87.13M (over 600 million yuan) at a post-money valuation of about 7 billion yuan (over $1 billion), led by Zhongping Capital and Guokai Technology Venture Investment, with participation from others like New Hope Capital. Hubble was an early backer but not mentioned in the 2023 round. Funds from investments support R&D in self-developed photoresist technologies, production capacity expansion, and transformation into a refined chemical platform. In July 2022, B&C Chemical formed a JV with shareholder HMT Xiamen New Technical Materials for a plant producing 8,000 tonnes of mid-to-high-end photoresists annually.

Who has invested in B&C Chemical?

14 investors have backed B&C Chemical across its funding rounds, including Qingsong Fund, China Development Bank Capital, V Fund Management, Suzhou International Development Venture Capital, Huawei Hubble and Zhongping Capital.

Lead investors include China Development Bank Capital, Zhongping Capital and Huawei Hubble.


B&C Chemical Investors

Investors in B&C Chemical by funding rounds participated
InvestorHQRoundsRoleFirst check
Shandong Railway FundChinaJinan1ParticipantApr 2023
China Development Bank CapitalChinaBeijing1LeadApr 2023
Foshan HengluanChinaChina1ParticipantApr 2023
Wuhan Zesen CapitalChinaChina1ParticipantApr 2023
Shenzhen Qianhai SiruiChinaChina1ParticipantApr 2023
Suzhou International Development Venture CapitalChinaSuzhou1ParticipantApr 2023
Qingfeng CapitalChinaChina1ParticipantApr 2023
Wuxi Industrial JufengChinaWuxi1ParticipantApr 2023
Zhongping CapitalChinaShanghai1LeadApr 2023
Qingsong FundChinaShenzhen1ParticipantApr 2023
Hunpu InvestmentChinaBeijing1ParticipantApr 2023
Huawei HubbleChinaShenzhen1LeadAug 2021

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B&C Chemical Competitors

B&C Chemical competitors include listed companies like OCI, Green Plains, Cosmo Advanced Materials and Kronos Worldwide, and private ones like Tigre and Lafarge India.

Public and private companies comparable to B&C Chemical
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
OCINetherlandsNetherlandsPublicly listed$1.1B($259M)$999M0.9x
Green PlainsUnited StatesUnited StatesPublicly listed$2.1B$27M$1.1B0.7x
Cosmo Advanced MaterialsSouth KoreaSouth KoreaPublicly listed$332M$14M$972M3.4x
Kronos WorldwideUnited StatesUnited StatesPublicly listed$1.9B$19M$946M0.8x
TigreBrazilJoinvillePrivate-$145M$918M-
Lafarge IndiaSwitzerlandZurichPrivate--$1.2B-

B&C Chemical Public Comps

B&C Chemical is still privately-owned, but its public comps include OCI, Green Plains, Cosmo Advanced Materials, Kronos Worldwide, Flotek Industries, Potasios Investments, Petkim, Aksa Akrilik, Bide Pharmatech Co and Koppers Holdings.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
OCI$1.1B($259M)1.0x0.9x(4.4x)19.4x
Green Plains$2.1B$27M0.7x0.7x51.7x5.9x
Cosmo Advanced Materials$332M$14M3.1x3.4x75.6x90.8x
Kronos Worldwide$1.9B$19M0.8x0.8x78.5x10.9x
Flotek Industries$237M$25M4.9x3.6x45.6x24.2x
Potasios Investments-$50M--18.3x-
Petkim$1.8B$167M1.1x0.8x11.8x17.4x
Aksa Akrilik$667M$181M2.1x1.4x7.7x8.2x

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Common questions about B&C Chemical

When was B&C Chemical founded?B&C Chemical was founded in 2010.
Where is B&C Chemical headquartered?B&C Chemical is headquartered in Pizhou, China.
Is B&C Chemical publicly listed?No, B&C Chemical is a private, VC-backed company.
What is B&C Chemical's valuation?B&C Chemical was last valued at $1B in its Series C in April 2023.
How much funding has B&C Chemical raised?B&C Chemical has raised $133M across 2 funding rounds.
What was B&C Chemical's last funding round?B&C Chemical's last funding round was a $87M Series C in April 2023, led by China Development Bank Capital and Zhongping Capital.
Who are B&C Chemical's investors?B&C Chemical's investors include Shandong Railway Fund, China Development Bank Capital, Foshan Hengluan, Wuhan Zesen Capital, Shenzhen Qianhai Sirui, Suzhou International Development Venture Capital, Qingfeng Capital, Wuxi Industrial Jufeng, Zhongping Capital, Qingsong Fund and 4 others.
Which companies are comparable to B&C Chemical?Companies comparable to B&C Chemical include OCI, Green Plains, Cosmo Advanced Materials, Kronos Worldwide, Tigre and Lafarge India.

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