BEIJING, July 13 (TMTPOST)— Hey Tea, a leading Chinese tea drink chain, just completed new funding round of US$500 million, backed by Tencent, Sequoia China, Shanghai-based venture capital firm BA Captail, three private equity firms Hillhouse Capital, L Catterton, Sunrise Capital, as well as Singapore’s state investor Temasek, 21st Century Business Herald learned on Tuesday. Another domestic media Touzijie last month said Hey Tea was close to end its Series D funding round and all of its existing shareholders joined in. It was reported that the post-money valuation would reach RMB60 billion (US$9.3 billion), setting new record among China’s tea drinking unicorns. Hey Tea didn’t disclose initial public offering (IPO) plan yet and denied any previous listing rumors, while its rival Naixue’s Tea raised more than HK$4.84 billion (US$620 million) in Hong Kong’s offering on June 30 and ended its debut 14% lower, with a valuation just under HK$27 billion (US$3.5 billion) that day.