
L Catterton backs beauty industry biotech supplier

L Catterton has led a CNY 200m (USD 27m) Series B round for Trautec, a China-based biotech start-up that develops synthetic proteins used in beauty and healthcare products.
The consumer-focused private equity firm is investing via its debut renminbi fund, which is targeting CNY 2bn and hit a first close last year, reportedly collecting CNY 1bn. The fund backed a CNY 300m...
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