BTN stated that as one of the limited partners of Yunzhong Fund, the company has currently contributed a subscription of 300 million yuan ($41.2 million).
On August 17th, Yunnan Botanee Biotechnology Group Co., Ltd. (referred to as “BTN”) issued an announcement titled “Announcement on Joint Investment with Professional Investment Institutions.”
It is reported that previously, there were news reports stating that BTN had established a venture capital fund called Chonglou Capital. The organization initiated recruitment at the end of last year, focusing its investment direction on the consumer and medical sectors. BTN is known as the “leading Chinese functional skincare brand” and began expanding its investment business in 2021. It has subsequently established three investment companies and invested in multiple projects in the beauty, skincare, and medical fields. Last year, BTN also invested 100 million yuan in Sequoia China’s new RMB fund.
According to the announcement, in order to enhance the company’s overall competitiveness and profitability, and seize strategic cooperation opportunities, BTN plans to invest in Xiamen Chonglou Private Fund Management Co., Ltd. (referred to as “Chonglou Private Fund”), a wholly-owned subsidiary, as the manager and general partner, to establish Xiamen Yunzhong Equity Investment Partnership Enterprise (Limited Partnership) (referred to as “Yunzhong Fund”). BTN has also signed the Partnership Agreement of Xiamen Yunzhong Equity Investment Partnership Enterprise (Limited Partnership) (referred to as the “Partnership Agreement”).
BTN stated that as one of the limited partners of Yunzhong Fund, the company has currently contributed a subscription of 300 million yuan ($41.2 million). This move is aimed at improving the efficiency of capital utilization and creating value for shareholders. By participating in the investments of Yunzhong Fund, BTN aims to explore business cooperation opportunities with outstanding invested enterprises, further promote the company’s development, enhance overall competitiveness and profitability. It contributes to the improvement of the company’s overall strategic deployment.
It is reported that the newly established Yunzhong Fund will invest in various fields, including but not limited to beauty and personal care, consumer healthcare, health consumer products, functional foods, and related upstream and downstream innovative companies.
Currently, Yunzhong Fund has completed the business registration procedures, obtained the business license, and completed the filing procedures with the Asset Management Association of China, obtaining the “Private Investment Fund Filing Certificate.”
