ClearVue Partners said Tuesday that it has closed $262 million for its debut fund. The target was $200 million. The pool’s LP base includes Fidelity, Emerald Hill, Harbourvest, AUDA, JP Morgan, Verlinvest and Robert Wood Johnson Foundation. Based in Shanghai, ClearVue Partners focuses on investments in China’s consumer market.
SHANGHAI, CHINA February 18 2014 – ClearVue Partners (CVP) announced today that it has raised $262M for its first fund, ClearVue Partners, L.P., well exceeding the target of $200M and hitting the hard cap for the fund.
ClearVue Partners focuses on investment opportunities in the fast growing consumer market in Greater China, specifically in the Food & Beverage, Consumer Products, and Consumer Internet & Mobile sectors. Fully committed to the Chinese consumer sector, Fund I will focus on companies with unique capabilities, strong competitive positioning in the China consumer market and differentiated products.
“The consumption story in China is irreversible, its share of GDP will continue to grow as consumers continue to trade up,” said Harry Hui, Founding Managing Partner of ClearVue. “Our strategy is to help build local lighthouse brands, and to bring global and local best operational and marketing practices to our companies.”
Despite the significant impact from government’s active anti-corruption policies, the total retail sales of consumer goods in China have grown by 13.1% in 2013 (Source: China Statistics Bureau), which is the highest globally. Mass consumption and innovative market opportunities related to changing consumer lifestyle are expected to drive further growth of the consumer market in the future.
“ClearVue Partners is leading the way in focusing on the consumer sector in China and building successful brands with their dedicated consumer expertise,” said Daniel Auerbach, Managing Partner of Fidelity Growth Partners. “We are pleased to have been one of the anchor investors to help ClearVue successfully launch its first fund.”
Along with Fidelity, ClearVue has a global group of institutional investors and advisors behind Fund I, including Emerald Hill, Harbourvest, AUDA, JP Morgan, Verlinvest, Robert Wood Johnson Foundation, and many other top-tier foundations, endowments and leading family offices.
“We are excited to be working with world-class institutional investors, strategic partners, and our consumer industry advisory board,” added William Chen, Founding Managing Partner of ClearVue. “We are actively working with our partners to bring valuable experience and deep consumer sector knowledge to our investments.”
ClearVue Partners was founded in April 2012 by Managing Partners Harry Hui and William Chen. Mr. 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. Mr. Chen was one of the founders of Billpoint, an internet payments company acquired by eBay in 1999, and has been a private equity investor for the last several years in China. With a dedicated team of investment professionals and distinguished strategic advisors with deep experience from the consumer space, the CVP team will bring their global and local strategy, operating, and marketing expertise to invest and help build leading local brands in China, as well as bring successful international brands and concepts to China.
About ClearVue Partners
ClearVue Partners is a private equity fund focused on investments in the fast growing and dynamic consumer sector in the Greater China region, primarily in the food and beverage, consumer lifestyle, and consumer internet/mobile sub-sectors. ClearVue targets growth stage investments in fast growing and promising local companies, enables market entry for leading international consumer brands into China, and develops top tier brands and businesses. ClearVue team has a unique combination of investment and senior operations experience from the US and Greater China, with an advisory group of recognized business pioneers in the consumer industry.