ClearVue closes USD362 million Fund II targeting China consumer market
Shanghai-based private equity firm ClearVue Partners has held the final closing of its second fund ClearVue Partners II, exceeding its target with total committed capital of USD362 million.
Fund II will remain focused on investments in the fast growing consumer market in the Greater China region.
China’s total retail sales of consumer goods have grown by 10.4 per cent in 2016, reaching a total of RMB33.23 trillion (USD4.84 trillion), which is the highest globally. Against the backdrop of consumption elevation, growth of high-quality and upgraded products is soaring.
“Domestic consumption contributed more than 72 per cent for the first 3 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 10 years,” says Harry Hui, founding managing partner of ClearVue, “Clearvue specialises 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,” adds 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.”