Shanghai-based private equity firm ClearVue Partners says it has raised a total of US$262 million for its maiden fund, exceeding its target of US$200 million, according to a company announcement.
The fund, named ClearVue Partners, L.P., will focus on investing in the fast growing consumer market in greater China, particularly in the food & beverage, consumer products, and consumer Internet & mobile sectors.
The fund’s limited partners include Fidelity Growth Partners, Emerald Hill, Harbourvest, Auda International, JP Morgan, Verlinvest, Robert Wood Johnson Foundation, among others.
"The consumption story in China is irreversible, its share of GDP will continue to grow as consumers continue to trade up," says Harry Hui, founding managing partner of ClearVue.
ClearVue Partners was founded in April 2012 by Harry Hui and William Chen.
Hui was formerly the chief marketing officer of Pepsico Greater China, and former president of Universal Music SE Asia and managing director of MTV North Asia.
Chen was one of the founders of Billpoint, an internet payments company acquired by eBay in 1999. He has been a private equity investor for the last several years in China.