Lunar is a Shanghai-based private equity investment manager that specializes in acquiring and developing middle-market consumer businesses in China. Founded in 1999, Lunar focuses on sectors where the growing Chinese consumer market demands higher quality, mass-market premium products and services. The firm has completed over 20 buyouts, utilizing its industry expertise to guide businesses from early-stage development to market leadership. Notable investments include Little Star, a prominent brand in the baby and children’s market, and Castle Snacks, which encompasses several leading snack food brands and a burgeoning e-commerce platform. Lunar's operationally-intensive approach has positioned it as a pioneer in the Chinese private equity landscape, emphasizing the creation of brands and experiences that resonate with Chinese consumers.
18th Floor, 10 Pottinger Street Central, Hong Kong
Jerry Mao
Founder and CEO
11 past transactions
Rayleigh Acoustics
Series A in 2023
Rayleigh Acoustics is an audio product design company that offers design solutions including ID, acoustics, structure, hardware, and software.
Shanghai Tang
Acquisition in 2018
Shanghai Tang is a luxury fashion brand based in Greater China, specializing in designer clothing and accessories for both men and women. The company offers a diverse range of products, including tang jackets, coats, shoes, bags, and traditional garments, which reflect the rich cultural heritage of China. Founded with a focus on traditional Chinese attire, Shanghai Tang has evolved to appeal to a broader customer base, operating 23 stores and positioning itself as a leading luxury brand within the world's largest luxury market. The brand is known for its distinct designs, often featuring mandarin collars, and aims to provide a shopping experience characterized by luxurious fabrics and cultural references. Following its acquisition by a consortium including prominent Italian businessman Alessandro Bastagli and a private equity firm, Shanghai Tang continues to enhance its presence in the luxury fashion sector.
UCCA
Acquisition in 2017
UCCA is an independent contemporary art institution located in Beijing. It focuses on organizing public exhibitions and research initiatives, showcasing both international and local artists. The institution engages in community outreach and educational programs, promoting public understanding of contemporary art. Additionally, UCCA retails artworks, contributing to the cultural landscape while fostering appreciation for the arts through various public programs and initiatives.
Shanghai LifeFun
Private Equity Round in 2017
LifeFun is a leading snack food business established in 1938, selling a wide variety of snack food products under the LifeFun brand. LifeFun is a “Shanghai Time Honored” brand and is one of the most recognized snack food brands in Shanghai and Eastern China. The Company sells more than 500 products, positioned at the mid-to-high end of the market, and focuses on beef and pork jerkies, poultry products and nuts.
Orchard Farmer
Private Equity Round in 2016
Orchard Farmer is a snack food company based in Beijing, China, established in 1993. It is recognized for its specialized snacks, including preserved fruits, dried fruits, and specialty nuts. The brand has become a regional leader in northern China and holds the distinction of being the largest seller of nuts and dried fruits in Beijing. Through its focus on the production and marketing of these processed snack items, Orchard Farmer has established a strong presence in the competitive snack market.
LIFEFUN
Venture Round in 2016
LIFEFUN produces and sells unique flavors of beef jerky, dried pork, sausage, meat dates, cured chicken, preserved duck, and other cantonese cooked foods. They offer Caifan sausage, original cut sausage, cantonese-style sausage, spicy sausage, and other sausage products.
Yaotaita
Private Equity Round in 2015
Yao TaiTai is one of the most recognized snack foods in China, selling more than 1,000 SKUs under the Yao TaiTai and Yi Min brands.
Yonghong Niutou
Private Equity Round in 2013
Yonghong, headquartered in Huishui County of Guizhou Province, is one of the top players in the Chinese beef jerky market. The Company’s most famous product, “Niutou”, or “Bull Head”, is a recognized “China Famous Trademark”, a prestigious title granted to only a handful of branded products. For nearly 30 years Bull Head has been synonymous with taste and quality.
Niutou Pai
Acquisition in 2013
Niutou Pai engages in the R&D, beef cattle breeding, food processing, and sales in beef product manufacturing enterprise.
Yeehoo Group
Private Equity Round in 2012
Yeehoo Group is a Chinese company established in 1995 and headquartered in Guangzhou. It specializes in the design, manufacturing, distribution, and retail of high-quality baby products, including infant clothing, bedding, bath care items, furniture, and maternal products. The company operates under two primary brands, Yeehoo and Bukangfu, with Yeehoo being a well-recognized name in the domestic infant clothing sector. Yeehoo Group offers a diverse range of over 3,000 products across more than ten categories, catering to the needs of infants and their mothers. The company's commitment to quality and innovation has positioned it as a significant player in the market for maternal and infant goods in China.
Pingan Fu Dianzi Zhifu
Series D in 2006
Pingan Fu Dianzi Zhifu provides online and offline payment solutions.
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