Skip to content
today’s VC industry is ushering in a number of “troublemakers” – industrial funds with both capital and resources. They are fierce and can compete with head funds as soon as they appear.
More than once, luringe had the idea of “leaving.”.
As an investment manager of a mid waist institution, what ranglingxi didn’t expect is that today’s consumer investment has also entered the era of competing fund industry background.
In the face of increasingly strong industrial funds in the process of “seizing projects”, since joining the investment industry, Luling Xi has never felt such a heavy sense of frustration. “After being repeatedly rejected by the project party, it does sprout such an idea: if there is a chance, it is better to go to the front-line institutions or industrial foundations, at least the mentality will be different.”
What Luling Xi feels most is that today’s VC industry is ushering in a group of “troublemakers” – industrial funds with both capital and resources. They are fierce and can compete with head funds as soon as they appear. Especially when the phenomenon of “grabbing projects” has gradually become the norm in the investment circle, the extraordinary strength of these industrial funds has become more prominent.
Not surprisingly, in 2021, the voice of these industry fund “troublemakers” in the primary market may continue to be amplified. This is not true. At the beginning of 2021, Qiaqia food, a traditional speculation company, announced the establishment of a wholly-owned subsidiary, Qiaqia new consumer investment company. It plans to use its own capital of 200 million yuan to carry out investment in new consumer and large food ecology related enterprises.
What’s more, what kind of competition will these “troublemakers” create?
Maotai, with a market value of more than 3 trillion,
To fight for “lazy economy”
Standing in the spotlight of the capital market, Maotai, whose share price has hit new highs frequently, is also quite catching up with the tide in its investment.
A few months ago, Baijia food, a new convenience food company, announced the completion of round B financing of nearly 200 million yuan. This round of financing was led by hillhood venture capital, followed by Maotai Jianxin (Guizhou) investment fund and Yisan capital, and continued to increase by old shareholders Tongchuang Weiye and binfu fund.
Among them, Maotai CCB (Guizhou) Investment Fund (hereinafter referred to as “Maotai CCB fund”) is a private equity investment fund management company jointly established by Maotai and CCB head office holding CCB Trust Co., Ltd. (CCB trust). In other words, through the Maotai Jianxin fund, Maotai has made a move in the field of new convenient food.
You know, this field will usher in a bright moment in 2020. Whether it’s snail powder or self heating pot, these fast food categories have received the favor of capital one after another. Take Baijia food for example, the company completed two rounds of financing in just four months.
Maotai’s investment business has been nearly seven years. In September 2014, Maotai Jianxin fund was established. In the investment, Maotai’s identity is not only a venture capital, but also an LP.
Tianyancha data show that Maotai Jianxin has invested in two funds, one is Shenzhen Mingcheng aviation industry fund enterprise (the company was cancelled in 2017), and the other is Shenzhen yuanzhifuhai No.3 investment enterprise (limited partnership), namely yuanzhifuhai.
So far, Maotai Jianxin fund has invested in seven enterprises, including two consumer products companies, including Liziyuan and Baijia food; the other two are upstream and downstream enterprises in the consumer chain, and the rest are semiconductor chip companies and chemical and manufacturing companies.
In terms of investment frequency, Maotai CCB fund basically maintains the rhythm of 1-2 projects a year, and the investment stage covers both the middle and early stage and the growth stage projects.
Although from the perspective of investment field, Maotai Jianxin fund has invested in technology companies at the same time, the overall keynote is still consumer projects. According to the public information of Maotai Jianxin fund, “the company focuses on the big consumer industry, takes into account other high growth industries, and strives to become a leading equity investment fund in China’s big consumer field.”
Direct investment of “Yuanqi forest” of net red beverage,
The hidden Challenger capital is fierce
The ambition of Yuanqi forest is not just to do a good job of soaking in water without sugar.
This new talent in the beverage industry, which will set off a storm of “sugar substitutes” in 2020 and make a lot of eyes, makes many VC companies fight for shares. At the same time, they also start to play the role of investors.
Cvsource investment data show that on December 4, 2020, Yuanqi forest invested in a light food brand — idyllism (light food), which is the first foreign investment of Yuanqi forest. Then, in just a month or so, Yuan Yang quickly launched two companies, namely, the “chain of mountain” and the new Baijiu brand “Guan Yun”.
Among them, before the introduction of Yuanqi forest, Yuanqi forest appeared behind the project of Guanyun.
Throughout the financing journey of Guanyun, before Yuanqi forest investment, Guanyun obtained two rounds of financing. The investors were innovation boat, Challenger capital and Qianxian capital. After penetration, innovation Yizhou and Qianxian capital are the foreign investment funds of Challenger capital, and Tang Binsen, the founder of Challenger capital, is the founder of Yuanqi forest.
In other words, through Challenger capital, Yuanqi forest has been hidden before investing in cloud.
Challenger capital was founded in 2014, two years earlier than Yuanqi forest. Challenger capital has always maintained a low-key style. Before the explosion of vitality forest, vitality forest rarely appeared in the media. But this does not hinder its fierce speed and attack frequency.
According to Challenger capital’s official website, Challenger capital has accumulated assets under management of 5 billion yuan, focusing on investment and consumption and TMT direction. Since its establishment, Challenger capital has invested in more than 100 companies, including Shanghai wanghong beverage brand m stand, kiskiskis, ramen said, shirenren, today convenience store, panda brewing and other star consumer projects.
As for investment style, Challenger capital wrote on its official website, “we hate the brainless labor of tossing back and forth projects, investing countless projects every year and selling countless projects. We manage our own funds + long-term funds. We can make decisions very quickly, and we don’t need to report at all levels and wait for the boss. “
According to cvsource’s investment data, among the projects invested by Challenger capital, two enterprises have been listed. From 2016 to 2020, the number of Challenger capital exit events is 11.
On the LP side, the LP of Challenger capital includes enterprise investors, VC / PE investment institutions, fof and guidance funds, accounting for 40%, 40%, 10% and 10% respectively. Among the corporate investors, there is a company called smart star, which is mainly engaged in social game business, and its founder is Tang Binsen.
“Duck neck king” Juewei food not only invested in projects, but also invested in funds
As one of the “three giants of Luzhou flavor” in China, I believe many people will put Jue Wei duck neck on the list of necessities of new year’s goods. But perhaps few people know that apart from selling duck necks, Juewei food is also keen on investing.
In September 2014, Juewei food established its investment platform, Wangju capital, and one year later, in October 2015, it invested in Hefu Laomian, becoming the earliest investor of the latter.
In addition to Hefu Laomian, Wangju capital also invested in the baking brand happy Western cake in 2017, and launched two catering supply chain enterprises in 2018, namely, catering Beidou supply chain and Qianwei central kitchen. Among them, Qianwei central kitchen is also the core supplier of large chain enterprises such as KFC, pizza hut, McDonald’s, zhenkung Fu and DEX.
According to Tianyan, the registered capital of Wangju capital is 800 million yuan. Up to now, there are 14 open investment events of Wangju capital, including shihedao technology, Anan logistics, yaomazi, Grand Slam food, express line, Yanjia spicy sauce duck, paw food, chunbaiwei, fenbeidou supply chain, Meixin food, etc. the investment fields mainly focus on catering consumption, food and beverage and cold chain logistics.
It can be said that in the daily life of the public, no matter it is the seasoning for cooking, or leisure snacks or offline restaurants, Jue Wei food has carried out a series of related layout through online capital gathering.
For example, yaomazi is a seasoning and ecological food manufacturer, the main categories are rattan pepper oil, pepper oil, Sichuan seasoning, etc.; Meixin food focuses on hot-pot/" 22375 rel="nofollow" target="_self">hot pot seasoning, which is a large-scale enterprise in the Yangtze River Delta, specializing in the R & D, production, sales and service integration of hot-pot/" 22375 rel="nofollow" target="_self">hot pot seasoning, sauce and other composite seasonings; chunbaiwei is a Chinese fast food chain brand, known as “zhongbaiwei”“ Upgraded version of Shaxian snack.
In terms of investment stage, most of the projects are angel, pre-A and round a, and the selling speed is relatively cautious, with an average of about four projects a year.
A consumer industry investor told Chinanet that in the catering circuit, the online gathering industry has accumulated a lot. They often do a lot of work on a project in advance. If you see a good project, the online gathering team will even spend the first half of the year to a year on research. “This kind of concentration is not what many organizations can do. Even if it is to compete with the first-line funds for projects, net gathering capital is often the winning side. “
As a matter of fact, Juewei food has not only made its own venture capital, but also invested a number of funds through Shenzhen Wangju Investment Co., Ltd., including tomato capital, wuyiqi fund, etc. Through these two funds, Juewei food also covers Agam Guokui, Banu hot-pot/" 22375 rel="nofollow" target="_self">hot pot, Zhengzhou xuemailong food and other enterprises.
In addition, Juewei food has also set up a “Juewei fund” in partnership with hungry food, focusing on the investment in food chain and catering industry. According to tianyancha’s data, juelie fund has invested in 16 enterprises, including many famous brands such as ndou sushi, obstinate bone, long ago, steaming Liuji, etc.
It is worth mentioning that, in the field of leisure food, the listed company Qinqin food has also set up investment business in the past two years, and the investment objects are basically new consumer goods brands. According to the public investment trends of Qinqin food, since August 2019, Qinqin food has invested in three enterprises, namely fruit wine brand “Bingqing”, “rejuvenation of old Chinese products” soft drink brand “Hankou No.2 factory” and yongpu coffee.
Guochao beverage and tea bag brands,
All of them are included in the real estate fund
When asked about the active consumer industry funds in the current market, more than one investor mentioned real estate companies. China investment net noticed that many real estate companies, including country garden and Longhu real estate, have extended their investment tentacles to the consumer market.
According to public information, as an equity investment institution of country garden group, country garden venture capital, established in January 2019, attaches equal importance to financial investment and holding investment, and its investment fields include real estate industry chain, big health, big consumption, semiconductor, advanced manufacturing, new infrastructure, logistics and supply chain, etc.
Among them, the new consumer track is one of the focuses of country garden venture capital.
According to tianyancha, since its establishment, country garden venture capital has maintained a fast pace of investment, and has invested more than 25 companies so far. In the field of new consumption, country garden’s venture capital covers a wide range of fields, including cofancy candy, Guochao No.2 drink factory, Lin Qingxuan, Chali Chali, zuodian, etc.
From the investment stage, at present, the investment of country garden venture capital in the new consumption field is mainly in the early and medium term, and it will also focus on the later projects in the future.
In contrast, although Longhu capital, the investment fund of Longhu real estate, does not make much efforts in the field of new brands, the investment ecology of Longhu capital also covers the new consumer industries around the collaborative strategy of the main real estate industry.
Up to now, there are 20 public investment events of Longhu capital, including catering consumption, education, science and technology, real estate and so on. In the catering and consumption track, Longhu capital has invested in many well-known companies, such as Yuanqi forest, Hefu Laomian, fresh life cold chain, dingdong shopping, etc.
Obviously, with the continuous entry and participation of industrial funds, the new consumer circuit has ushered in a feast of capital, and numerous new consumer companies have risen rapidly and become popular under the enthusiastic pursuit of capital.
According to cvsource, in 2020, the number of financing events of consumer enterprises was 1444, and the total amount of financing was 1021.257 billion yuan, with an average of 700 million yuan, the highest in the same period of the past five years. This means that the capital is more and more inclined to the front-line projects, and the situation of rushing for projects is inevitable.
However, in addition to the carnival, some investors keep a cautious attitude.
“I believe that many national brands will come out in the future, but the number may be much less than expected.” Investors in a certain consumer field are frank with Chinanet. From the perspective of long-term development, the growth of consumer goods companies is a very important thing, but today’s brand entrepreneurship is actually very light. “I think you may want to keep the important things until after listing, but it should be noted that not every company can complete the leap from light to heavy.”
(at the request of the interviewee, Lu Lingxi is a pseudonym)
National New Year’s products, start to invest
Author: Ma Mujie; source: China venture, reprint authorized.
Joining the community: Cherry (wechat: 15240428449);
Business cooperation: Amy (wechat: 13701559246).
|||||| collagen peptide | walnut element | high end of white milk | honey under the tide of sugar free | snack at night | A2 milk | the most innovative concept of the year | hidden weapon of beer
Daily new products: Isee trends | editor’s | reader’s
Hot news in a week | innovation interview – lingting | new Xiu brand | trend insight | packaging outpost
Foodaily daily food, together with global business and industry partners, plans foodaily fbic2021 global food and beverage Innovation Conference. With the theme of “new food era – digital reconstruction, open incubation and new brand wave”, it explores the new consumer brand market from three dimensions of “stage of innovative products”, “food Developer Conference” and “top product social circle” From May 19 to 21, 2021 in Shanghai, we invite you to witness together. (click on the picture to see the details.).
food people are “watching”