On the afternoon of December 5, Zhejiang Innovation and Development Capital Management Co., Ltd, Beautéville Supply Chain (Huzhou) Co., Ltd and Zhejiang HCSOO Investment Co., Ltd officially signed a cooperation agreement to jointly launch the beauty consumption industry fund. Zhang Lei, chairman of Zhejiang Innovation and Development Capital Management Co., Ltd, Hou Juncheng, chairman of Hangzhou Cosmetics Industry Association, Chairman of PROYA and General Consultant of Beautéville, Chai Yaming, chairman of Beautéville Supply Chain (Huzhou) Co., Ltd, Ling Fei, executive director of Cosmetics Industry (Huzhou) Investment Development Co., Ltd, Xia Meitie, chairman of Zhejiang HCSOO Investment Co., Ltd, and the fund operation and management team attended the meeting and signing ceremony.

△ From the left to right are Chai Yaming, chairman of Beautéville Supply Chain (Huzhou) Co., Ltd, Zhang Lei, chairman of Zhejiang Innovation and Development Capital Management Co., Ltd, and Xia Meitie, chairman of Zhejiang HCSOO Investment Co., Ltd.

Participants gave full play to their respective advantages, complementary resources and strong combination. They gave full play to the synergy of provincial state-owned capital operation platform, beauty industry cluster and new retail formats of big consumption. All parties jointly launched the beauty big consumption digital industry fund. The beauty industry fund plans a scale of 1 billion, and is jointly committed to integrating domestic and foreign beauty industry resources, integrating consumer industry capital, and enabling to accelerate the capitalization and large-scale development path of innovation projects in beauty and large consumer industries.

△ group photo at the signing ceremony

Zhejiang Innovation and Development Capital Management Co., Ltd

Zhejiang Innovation and Development Capital Management Co., Ltd is a market-oriented and professionally operated fund management company under the state-owned capital of Zhejiang Province, which is a private equity investment fund management company focusing on strategic emerging industries relatively controlled by the state-owned capital, with the key investment areas being new energy, new materials, information technology, health and consumption and other key industries supported by the state and livelihood industries. In March 2020, the company innovatively realized the mixed ownership reform of the provincial state-owned investment company by introducing Zhejiang United Investment Group and Zhejiang Qiantang River FR Asset Management Co. Ltd.

 Zhejiang HCSOO Investment Co., Ltd.

Zhejiang HCSOO Investment Co., Ltd is a well-known professional venture capital institution in Zhejiang province for consumer and retail track, with deep accumulation and rich experience in big consumer and new retail industry, and has formed a complete and mature system of early retail and consumer project screening, evaluation, investment and incubation. The company has three core service brands, HCSOO Capital (fund investment), HCSOO Cohort (startup gas pedal), and HCSOO Creative Society (media service), of which HCSOO Capital is an early-stage investment fund focusing on retail consumer industry ecology, with the mission of investing in accelerating future-oriented segment champion brands, and investing in areas such as retail channels and local life services, consumer goods brands, and retail technology.

Hou Juncheng, Chairman of Hangzhou Cosmetic Industry Association, General Consultant of Beautéville and Chairman of PYORA said that Beautéville has been advocating the development mode of "government + industry + fund", and is very happy to see the strategic cooperation between Beautéville Supply Chain Company, Provincial State Capital and HCSOO Investment. The provincial state capital fund management and operation platform has strong credibility and compliance, coupled with Beautéville as a professional beauty industry service platform and professional consumer e-commerce industry fund operation team, it can fully realize the operation mode of "capital + empowerment" and promote the rapid development of China's beauty industry.

Mr. Chai Changamin, director of Beautéville Supply Chain (Huzhou) Co., Ltd, said in the meeting that Beautéville, as a typical model of real industrialization in Zhejiang Province. Beautéville will make full use of the high-quality industry chain resources of beauty industry at home and abroad, continue to serve the beauty industry with altruism, adhere to the original intention of serving the beauty industry, and jointly promote the beauty consumption industry fund with partners, and jointly provide services and empowerment for the beauty industry. We will continue to serve and empower the beauty industry.

Mr. Zhang Lei, chairman of Zhejiang Innovation and Development Capital Management Co., Ltd, said that the signing is of great significance. He hopes that the Beauty Consumption Digital Industry Fund can become a model of the pendant industry fund initiated by the provincial state-owned capital, and asked the fund management and operation team to do a good job in promoting the implementation of the subsequent funds and projects. Zhejiang state-owned capital attaches great importance to the development of advantageous industrial clusters in the province, and is also constantly practicing the cooperation mode of industry plus finance. We hope that Beautéville will continue to build a hundred-year business in the spirit of serving the industry.

△ From the left to right are Chai Yaming, chairman of Beautéville Supply Chain (Huzhou) Co., Ltd, Zhang Lei, chairman of Zhejiang Innovation and Development Capital Management Co., Ltd, and Xia Meitie, chairman of Zhejiang HCSOO Investment Co., Ltd.

Ms. Xia Meitiao, chairman of Zhejiang HCSOO Investment Co., Ltd made a systematic summary of the preliminary preparatory work of the industry fund and expressed her great optimism about the rapid development of China’s consumption industry, especially the beauty track in China in the future. The operation and management team of the beauty consumption industry fund will work together to integrate state-owned capital, private capital and industry chain resources, plow the beauty, e-commerce and new retail track for a long time, and join hands with the provincial state-owned capital and Beautéville to jointly provide a platform for the beauty industry. Beautéville will contribute to the development and capitalization of the beauty industry by providing services and empowerment.

Ms. Xia Meitiao, Chairman of Zhejiang Hydrogen Creation Investment Co. Ltd delivered a speech on the spot