China's hunger for safe food attracts US$50b investment fund
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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 US$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 US$100 million each to the partnership.
