CMIA Capital Partners, the China-focused private equity firm launched by former Cargill and HSBC bankers, is reportedly targeting $150m for an agriculture fund.
The firm has already invested about $30m from the fund in a trio of companies according to Bloomberg, which quoted co-founder Lee Chong Min.
They include farm machinery maker Zhongtian Longzhou Agricultural Equipment and king oyster mushroom grower Lvya Mushroom.
Lee said, “Our investments are all related to China’s consumption story.
“Domestic spending will be the big theme over the coming years after the expansion of the industrial sector.”
The firm has also previously made deals in the healthcare sector by picking up C&O Pharmaceutical Technology and ultrasound cancer treatment technology developer Chongqing Haifu Technology.
Min was previously head of equity investments and trading for the Asia-Pacific region at Cargill and head of convertible bond and equity operations at JP Morgan.
Senior partner Anson Wang was formerly regional managing director for HSBC Asset Management and CEO for State Street Global Advisers.
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