ClearVue leads new round for China online fruit store

Financial terms were not disclosed but the investment size was said to be $10 million.

Founded in 2009, the company primarily sources fruit from outside of China and has a cold storage and logistics system to handle deliveries.

"We believe that online shopping for fresh fruit in China is a new and fast-growing consumer trend," Harry Hui, managing partner of ClearVue, said in a statement."With access to the highest quality domestic and imported fruits from around the world, Fruitday.com has changed the way Chinese consumers buy fresh fruit."

The company claims Chinese fresh fruit consumption reached more than RMB400 billion ($64 billion) last year, up 15% from 2012. Driven by increasing demand for high quality fruits, the imported fruit sector is growing even faster, at an annual rate of 40%, particularly in major cities such as Shanghai and Beijing.

In February, ClearVue closed its first fund at $262 million, exceededing the original target of $200 million. The ClearVue Partners Fund I will invest in consumer deals in Greater China, specifically in the food and beverage, consumer products and consumer mobile sectors.

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• Topics
• Greater China
• Consumer
• Venture
• TMT
• e-commerce
• Venture
• China