Lunar takes the bull by the horns
Nothing transforms the fortunes of a start-up quite like a celebrity endorsement. Twenty-five years ago, former Chinese President Hu Jintao, then still a rising star in the Communist Party, visited Yonghong, a family-owned beef jerky producer based in Guizhou province. He wrote a letter to the three founders suggesting ideas for product development, and they publicized it. Business grew dramatically overnight.
"The way I like to think about it, there are definitely opportunities for people to add value to companies in China, even Hu Jintao," says Derek Sulger, managing partner at Lunar Capital, which last week...
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