China’s CR Capital ties up with CCBD to set up $7.8b industry fund

Beijing-headquartered CR Capital Management has tied up with state-backed China Council for Brand Development (CCBD) to launch an industry fund with a total capital commitment of 50 billion yuan ($7.8 billion).

The fund, which will be launched with a corpus of 10 billion yuan ($155 million), is set to invest in local brands in the consumer sector. Investments will flow into the fund in three tranches, CR Capital said in a WeChat post.

Founded by parent company China Resources Holdings in 2006, CR Capital invests in sectors spanning mass consumption, healthcare, green energy, technology innovation, and urban property, among others. As of February 2020, the Hong Kong-based firm managed over 100 billion yuan ($15.5 billion) in assets.

Of late, CR Capital has started ramping up its focus on the consumption sector. A month earlier, CR Capital tied up with COFCO Capital, a publicly-traded food processing firm to set up a joint venture (JV) to launch a 2 billion yuan ($308 million) new consumption industry fund in a bid to invest in modern agriculture & food, food tech, and consumer services sectors.

Additionally, CR Capital has also joined hands with state-backed China Chengtong Holdings Group, OCT Capital, and Xiamen local authorities to set up a consumption fund late last month. The fund has made a strategic investment in wedding photography services provider Bojue Photography.

The partnership will help Chinese brands go in for digital innovations and expand their operations abroad.

Jointly founded by five state-owned groups including the Ministry of Finance, State Administration for Market Regulation and China Council for The Promotion of International Trade, CCBD offers a gamut of operation and management services to brands through its policies and information resources, among others.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.