Shiseido to launch investment fund in China
TOKYO, NNA - Major Japanese cosmetics maker Shiseido Co. has joined hands with Chinese alternative asset management firm Boyu Capital to launch a fund to invest in emerging companies in China.
Tokyo-based Shiseido's Chinese subsidiary, Shiseido China Co., and Boyu Capital in Shanghai have reached an agreement to set up the Shiseido Beauty Innovations Fund to explore investment opportunities among China's emerging cosmetics and wellness brands.
Shiseido will serve as a limited partner, or investor, and Boyu as a general partner, or fund manager, for the fund scheduled to launch this year and also look to invest in e-commerce services and consumer experience technology firms.
Shiseido declined to release the fund's projected assets under management.
Shiseido said the China Business Innovation & Investment Office, which the beauty giant set up in Shanghai in 2019, will work with Boyu Capital to check and identify target companies, according to the beauty giant.
Shiseido hopes the new fund will help beef up its business portfolio in China and meet the diversifying needs of Chinese consumers.
Boyu Capital was founded in 2011 and also has offices in Beijing, Hong Kong and Singapore, according to Shiseido. (NNA/Kyodo)