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China’s ClearVue hits hard cap with $262m debut fund close

19 Feb 2014

china dragon_sqGreater China-focused private equity firm ClearVue Partners has easily beaten its target for its debut fund by holding a $262m final close.

The Shanghai-headquartered firm was hoping to gather $200m and had hit $140m by last August according to reports at the time.

ClearVue said it would use the fund to target growth capital deals of between $5m and $30m in the food and beverage, consumer lifestyle, internet and mobile-related sectors.

Founding managing partner Harry Hui said, “The consumption story in China is irreversible, its share of GDP will continue to grow as consumers continue to trade up/

“Our strategy is to help build local lighthouse brands, and to bring global and local best operational and marketing practices to our companies.”

Fidelity Growth Partners acted as an anchor investor in the fund, while other LPs backing it included HarbourVest, JP Morgan and Emerald Hill.

Daniel Auerbach, a managing partner at Fidelity, said, “ClearVue Partners is leading the way in focusing on the consumer sector in China and building successful brands with their dedicated consumer expertise.

“We are pleased to have been one of the anchor investors to help ClearVue successfully launch its first fund.”

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