CLSA invests in China’s Azoya

According to a release, the GP joined several unidentified existing investors in the round. Financial terms of the transaction were not disclosed. It marks the third funding round for Azoya, which will use the new capital to accelerate its growth while leveraging CLSA CP’s resources in the fast-moving consumer goods (FMCG) and retail space to introduce improvements to its operations.

Azoya was founded in 2013 to provide overseas retailers with an e-commerce platform to sell their goods in China. The company aims to reduce the expense and risks associated with entering China by helping partners set up local entities and address regulatory issues in the market. It has more than 35 retail clients in 11 countries, including French women’s retailer La Redoute and European online beauty products platform Feelunique.

CLSA CP invested through its Aria IV Funds, a family of funds that focuses on retail and consumer, specialized manufacturing, food and beverage, and consumer technologies. The vehicle’s previous investments in the e-commerce services space include Indian supply chain and logistics services provider Holisol Logistics, for which CLSA CP led a $10 million round in 2015.

“Cross-border trade has been growing rapidly among Chinese e-shoppers,” said Miranda Tang, managing director at CLSA CP. “While it is a competitive sector, Azoya has demonstrated its in-depth local market knowledge and a thorough understanding of overseas retailers. The Azoya management team is extremely adept at connecting international retail companies to e-shoppers in China.”

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• Topics
• Greater China
• Consumer
• Technology
• Expansion
• China
• TMT
• CLSA Capital Partners
• Growth capital