L Catterton, the US private equity firm backed by LVMH, has said it aims to raise two billion yuan, or $275.44 million, for its first impact fund for investments in China.
On Monday, L Catterton announced the creation of the platform for its first impact fund. The company hopes that the fund will offer both attractive returns and make significant progress in addressing social and environmental issues.
The fund is expected to focus on companies that reduce climate change, cut waste and conserve nature; eliminate disparities in health, welfare and nutrition; and create a more inclusive economy by expanding access to the financial system and improving education and workforce development.
L Catterton also announced the launch of its first yuan-denominated fund.
In its first phase, the fund focuses on investing in early-stage companies in the consumer sector.
At the time of its first closing, the fund had already raised “about one billion yuan”, commented a close source.
According to the release, the first phase of the fund is expected to be based in the city of Chengdu, located in southwest China.
With more than $33 billion of equity capital across its fund strategies and 17 offices worldwide, L Catterton is the largest consumer-focused private equity firm.
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