Forbes has a story on Haiyin Capital’s investment in XCOR:

A person with knowledge of the deal has told FORBES that Haiyin’s total investment in the company is $5 million at a valuation of $140 million. When contacted, XCOR declined to comment on this figure or investment.

Haiyin Capital makes an attractive offer to its investment partners, founding partner Yuquan Wang told me: the ability to leverage Chinese manufacturing to help them get their products to market faster, and the opportunity to make inroads into the growing Chinese market while they pursue the U.S. market was well. Things are different for XCOR, though. The company won’t be doing any manufacturing in China, but Wang says that the reason for investing in them is much simpler than that.

“XCOR is a different story. We just like the time. They’re dedicated to something that’s really cool,” he said. “We’re not sinking money in looking for a large capital return. We wanted something encouraging and exciting in our portfolio.”

Andrew Nelson, XCOR’s former COO who still works with the company on a consulting basis, told me that the influx of money will be helpful for XCOR as it gears up to conduct test flights of its Lynx spacecraft later this year.

“This round allows us to finish Lynx and build out a bigger marketing and sales program,” he told me. “It will also let us get through our test program and allow our wing design to mature. It’s a challenging wing to build. Six years ago we couldn’t build it, but now we can thanks to 3D printing of titanium parts and advances in composite materials.”