Cosmetics manufacturer Guangdong Marubi Biotechnology has formed a RMB1bn ($142m) industrial fund with industrial investment management firm Jinding Capital, DealStreetAsia has reported, citing a stock exchange filing.
Jinding Capital is general partner for the vehicle, dubbed Marubi Jinding Cosmetics Industrial Fund Management, while Marubi has taken a limited partner position, according to the filing.
Founded in 2002, Marubi markets a range of cosmetic and skincare products including facial creams and masks but is best known for its eye serums and creams. It also operates a Japan-focused business called Marubi Tokyo.
Private equity firm L Catterton paid an undisclosed sum for a 49% in the company 2013 before it floated on the Shanghai Stock Exchange in July 2019 in a $115m initial public offering.
The fund will invest in skincare and beauty brands as well as to supply chain technology and services providers. It is expected to support Marubi’s growth within the cosmetics space in addition to helping to boost its supply chain capabilities.
