Deals
China's Hunger for Safe Food Attracts Tencent-Backer Hillhouse
- Teams with VMG Partners to invest in small consumer brands
- Organic baby food, craft beer, among pair’s early investments
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Hillhouse Capital Group, an early backer of tech giant Tencent Holdings Ltd., is now seeking to sate China’s hunger for safe foods.
The $50 billion investment fund has teamed up with San Francisco-based private equity firm VMG Partners to invest in emerging consumer brands and help them expand globally, especially in China, where increasingly wealthy shoppers are looking for more reliable products following a series of tainted-food scandals. The two firms have pledged as much as $100 million each to the partnership.