LVMH-backed L Catterton seeks to raise $275m for first yuan-denominated fund

LVMH-backed L Catterton seeks to raise $275m for first yuan-denominated fund

Shanghai, China. Photo by Javier Quiroga on Unsplash

L Catterton, the private equity firm backed by luxury goods empire Louis Vuitton Moet Hennessy, said on Monday it aimed to raise 2 billion yuan ($275.44 million) for its first yuan-denominated fund, as it eyes early-stage investments in China.

L Catterton, which has invested in Chinese soft drink brand Genki Forest and premium pet food provider Shanghai Enova Pet Products, said the new fund has received capital from unidentified local Chinese government body and international and overseas companies in the consumer sector.

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