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Capvent announces successful fund close

12-05-2011 17:31 BJT

The Capvent Asia Consumption Co-investment Fund (CACC) has announced a successful first close for its fund that focuses on investments with private equity funds across emerging parts of Asia in the consumer sector. Its strategy employs a cooperative approach that involves working with a large number of small to mid-market fund managers across the region, where it has relationships through fund activities.

Capvent is a specialized private equity company with strong investment across Asia through its fund of funds, separate accounts, and co-investments. Its Asia investments are carried out with an on-site advisory presence in India and China.

CACC is looking for growth equity investments mainly in consumer goods and related services, with the focus on food and drinks, home care, beauty products, water, cleaning technology, digital marketing, e-commerce, and health and wellbeing. Primary countries of interest are India, China, Vietnam, Indonesia, Malaysia, and Thailand, whose economies are largely driven by favorable demographics and rising disposable incomes, and provide an abundance of consumption-oriented businesses that cater to consumer aspirations and an improving quality of life.

Varun Sood, a managing partner at Capvent, explains that, "By creating a product that gives investors a ‘pure-play', but diversified, investment pool of companies in the high growth space of consumer spending in Asia, we're able to access a sector with much quicker growth than the GDP, thereby providing a better rationale for good returns."

Unilever Corporate Ventures (UCV) is an anchor in CACC's investment and a key partner of Capvent across Asia. CACC will be able to draw upon the UCV's expertise and knowledge in assisting its portfolio companies to realize their growth potential. In relation to this, Martin Grieve, the managing director of UCV, has commented, "This investment is an exciting strategic partnership that expands our venture capabilities to emerging sectors in Asia and even complements existing VC and PE investments across North America and Western Europe."

Asha Gopalakrishnan, Venturing Director Asia at Unilever Corporate Ventures, has added, "Our investment in CACC is UCV's first foray into emerging markets with a strong consumer theme. CACC's focus areas largely reflect Unilever's priorities, and, which we believe, have great potential and strategic benefits."

CACC has also assembled a group of investors and an advisory board with leading experience worldwide in consumer goods retail, luxury goods, and other consumer segments.

"Our relationship with UCV is an exceptional, unique way to help growth companies in which CACC's investments move towards an increasing market share in fast-growing economies,"according to Rohan Ajila, a managing partner at Capvent.

Tom Clausen, a managing partner at Capvent, expanded on this by saying, "These companies need help with the best international practices, and our relationship with UCV and other consumer firms, along with our global network, can add a great deal of value to partnerships with other funds and investments." Together with other leading institutional investors and private family firms, in Europe and the US, CACC has raised a large part of its target commitments and intends to reach its full target of $150 million in investor commitments by early next year. About Capvent: We are a specialized private equity investment firm with a focus on mid-market funds in emerging parts of Asia. About Unilever Corporate Ventures: UCV is the venture capital arm of Unilever, one of the world's largest consumer goods company.

Editor:Zhang Hao |Source: China Daily

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