China’s Harvest Capital holds first close for consumer fund at $446m

Photo: Reuters

Chinese private equity firm Harvest Capital has hit the first close of a new RMB-denominated consumer-focused fund at 3 billion yuan ($446.52 million), according to an announcement.

The Shanghai-based company said it would ‘closely collaborate’ with other investors, portfolio companies and their management teams in consumption and modern service fields to pursue sustainable growth in investment returns.

Founded in November 2014, Harvest Capital is a private equity firm that focuses on investments in the military, advanced manufacturing, and consumption industries, which includes consumer goods, services and entertainment. The firm prefers to make localized industry investments.

The investment firm, formerly known as Sino-Can Harvest Capital, earlier closed its second USD-denominated fund – Great China Motivation Fund Phrase I – at $300 million.

Its backers include China Agricultural Bank-owned ABC International and China Orient International, a wholly-owned subsidiary of China Oriental Asset Management Corporation.

Also Read:

China’s Legend Capital raises $156m for second RMB healthcare fund

China: Alibaba Group puts $140m in cloud service firm; Akeso raises $45m

China’s Dah Chong Hong, CITIC team up for $80m healthcare, consumer fund

China: ClearVue Partners closes second consumer fund at $362m hard cap

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.