On June 10, Prax Capital announced that it has invested US$10M in Shandong-based Blue Horizon Group. The investment is Prax's first in the hotel industry and its third in the consumer sector after Little Sheep and Kelti China, a skincare salon chain operator.

Blue Horizon Group is a hotel chain targeting mid- to high-end consumers in China. Since its founding in 1994, the Group has developed into a leading brand in the Shandong market, managing 12 hotels of three-star or above and two independent restaurants. In each Blue Horizon hotel, there are several in-house restaurants offering different types of cuisine.

Prax Capital is a foreign private equity firm focusing on Chinese Mainland. Currently, it manages Prax Capital Fund II focusing on industrial manufacturing, consumer services and clean tech sectors, and Prax Capital Fund III focusing on real estate development projects.