ClearVue Partners, a Shanghai-based private equity firm focused on the consumer market in China, announced today that it had completed the final closing of its second fund ClearVue Partners II, L.P. at US$362 million hard cap.
The new fund will remain focused on investments in the fast growing consumer market including food and beverages in the Greater China region, according to a company announcement.
China’s total retail sales of consumer goods have grown by 10.4% in 2016, reaching a total of RMB33.23 trillion (US$4.84 trillion), which is the highest globally. As Chinese consumers seek safer and higher quality products, growth of consumer activities have been particularly soaring.
“Domestic consumption contributed more than 72% for the first three quarters of 2016 in China, which is reaching levels of mature western markets. The Chinese consumption story is the most excitement investment thesis globally for the next ten years,” says Harry Hui, founding managing partner at ClearVue, “Clearvue specializes in building brands and accelerating growth of our portfolio companies.”
“We are thrilled to be working with our world-class institutional investors including several global top FMCG companies,” added William Chen, founding managing partner of ClearVue, “Our consumer focused investors as well as industry advisory board bring together unparalleled investment experience, boosting our focused strategy in consumer related investments in China.”
The firm previously raised its first fund at US$262 million hard cap in 2014, exceeding its target of US$200 million, focusing on food & beverage, consumer brands, Internet consumer, and mobile.
Founded in 2012, ClearVue focuses on the growth of consumption in China, in the fields of modernization, consumer lifestyle, health & wellness, and the digital consumer.
It has invested in 22 companies so far including mobile healthcare unicorn Ping An Haoyisheng, insurance unicorn Zhong An Insurance, and a fresh fruit retailer FruitDay.
Last month, it led a RMB200 million (US$29 million) series B round in I Believe, a Henan province-based Internet-enabled convenience store company.