Singapore's Tembusu seeks $287m for China liquor fund

The anchoring LP is Renhuai Moutai Flavor Liquor Industry Development & Investment, a company linked to local government in the province, which is renowned for the production of baijiu, a Chinese spirit. Moutai is the name of a town in Guizhou and also a brand of baijiu. The local producer is Kweichow Moutai, one of China's preeminent liquor players.

The China Guizhou Baijiu Fund will invest in various businesses supporting the procurement, storage and processing of baijiu in the area. "In a climate of complexity and change, our thesis-driven approach allows us to find unique and compelling opportunities for international investors to participate in the significant development potential in Guizhou and in Greater China," Lim Hwee Hua, co-chairman of Tembusu, said in a statement.

Tembusu claims to be the only foreign PE fund manager to be given Qualified Foreign Limited Partner (QFLP) status in the Guizhou. The firm set up a Guizhou office in 2017 and launched a series of funds earlier this year expected to target the region in technology, infrastructure, healthcare, tourism, and impact-related projects.

Tembusu was established in 2006 with a focus on growth capital and mezzanine strategies in emerging Asian markets. The firm claims to have completed more than S$250 million ($184 million) in PE transactions to date. It closed its debut fund at S$100 million in 2008. This was followed by two similar growth vehicles in 2013 and 2014, as well as sector fund for the media industry in 2015 and a technology-focused VC fund in 2016.

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• Topics
• Southeast Asia
• Greater China
• Fundraising
• Growth
• Singapore
• China
• Tembusu Partners
• Consumer
• manufacturing