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Major economies throughout the world have already witnessed stable growth in economic benefits and financial gains generated by the expansion of the green and sustainable industries, resulting from the increased awareness in the importance in responsible behaviours on the societal, sectoral, corporate, family or individual levels and the growth in industrial and consumer demand for green product and services. The trend is believed to continue in the future.
The “green food industry” is perhaps the most impactful and visible component in the course of the transition towards a green economy. Awareness has reached a new level as to the impact the livestock industry has created in terms of greenhouse gas emission, water footprint and food production inefficiency, while affecting our health on an individual level.
GMV is of the view that plant-based food items are important alternatives (if not just an addition) to meat. The plant-based consumer segment is where the most ground-breaking and compelling food trend is taking place.
GMV aims to invest in and incubate companies that deliver social and environmental good along with competitive market returns. The General Partner (and the Investment Manager) shall determine the initial allocation of the portfolio based on the following strategies and may rebalance the allocation subsequent to an exit event and/or by increasing the size of the Fund.
With a view to maximize the synergistic effect, the Partnership will focus primarily on identifying and empowering targets in the green and wellness space with potential scalability and integration, whether horizontal or vertical, opportunities with the already successful Green Monday Foundation and Green Common platforms.
GMV assesses the following key criteria with respect to the various aspect of a potential target Portfolio Company-
David Yeung is a noted environmental advocate and founder of Green Monday, an innovative social venture that takes on climate change, food insecurity, health issues and animal welfare with a diverse platform that shifts individuals, communities, and corporations towards sustainable, healthy, and mindful living.
Under Green Monday Mr. Yeung launched Green Common – the world’s first plant-based green living destination – to introduce a revolutionary food and lifestyle experience. The movement of Green Monday has now spread to over 10 countries, with 1.6 million people practicing Green Monday at its Hong Kong origin.
Awards and recognitions won by Green Monday and Mr. Yeung include “50 Most Innovative Companies,” “100 Most Creative People in China,” “Asia 100 Pioneers”, “Ten Outstanding Young Persons Hong Kong”, “Best Idea of the Year.” He is also the author of a number of best-selling books on Zen wisdom and mindfulness. Mr. Yeung is a graduate of Columbia University and a Director of Search Inside Yourself Leadership Institute (SIYLI), Hong Kong AIDS Foundation and Hong Kong Buddhist Association.
Benny Cheng is the founder and managing director of Insight Capital Management and Insight Capital Partners, with over 18 years of solid experience in asset management, investment advisory, private equity and structured finance. He began his fund management career at Baring Asset Management then joined Principal Asset Management where he was responsible for overseeing the Asian equity market. In 2006, Mr Cheng joined MaunaKai Capital Partners (MCP). As a partner, he was the responsible officer of MCP, where he managed several Greater China long fund mandates and co-managed an Islamic Greater China fund.
Insight Capital Management was founded by Mr Cheng in 2010 and has successfully participated in substantial private placement deals including Haitong Securities (the second largest Investment Bank in China) whilst Insight Capital remains one of the major shareholder of the company. The private equity arm, Insight Capital Partners was later set up in 2015, whose focus lies in investing in the global tech sector. It currently invests in a few Asian tech companies including the Indonesian ecommerce leader – Tokopedia. Today Insight Capital manages an AUM of USD 400m. Mr Cheng believes healthy financial performances and positive social change are inherently connected and invests in outstanding ventures who enable social and environmental benefits.
Peter Strugatz is an early member of the mission-driven business community as an entrepreneur and an investor. His ability to analyze and assess both impact and scalability led him to invest early in today’s success sustainability superstars including Stonyfield Farm Yogurt and Zipcar. Peter’s resume includes 16 years as CEO of manufacturing companies, 8 years as a full-time social angel investor, and 4 years of consulting and coaching mission-driven entrepreneurs and investors. After 20 years working with and investing in social enterprises, Peter launched IceStone as co-Founder and co-CEO, one of the first sustainable building product companies and the number one sustainable countertop solution. Under his leadership, IceStone secured $20 million in mission-aligned capital, grew to 65 employees, built out 55,000 square feet of manufacturing, and was among the first to achieve many of today’s highest standards. These include achieving Cradle to Cradle Gold certification, becoming a founding member of B Corp, and being named as one of the first Inc. Magazine’s “50 Greenest Companies”. The company also became a model for its innovative corporate culture of inclusiveness, diversity and collaboration. As CEO of a manufacturer of sculptural reproductions and decorative accessories he helped grow the company to 350,000 square feet of manufacturing in the US, UK, Mexico, and Canada with 500 employees. Sales were from distribution in 17 countries through museums, department stores, and retailers. Peter is a former board member of the Social Venture Network.
Tina Ju is a founding and managing partner of KPCB China and TDF Capital. She has more than 25 years of experience in venture capital, investment banking and operations. Since 2000, Tina has led more than 30 investments with many successful exits, including Alibaba Group, Baidu, Cgen, China Auto Rental, Focus Media, Hurray, etc. She currently serves as a board of director for a number of companies. Tina has been honored on the Forbes China list of China’s Best Venture Capitalists every year from 2006 – 2013. Tina is the founding chairperson of Women In Leadership (WIL), the premier organization for women entrepreneurs and PE/VC investors in China, and serves as a governor of the Shanghai Venture Capital Association (SVCA). She is also a member of Advisory Board Council for (Oxford) Saïd Business School. Tina holds an M.B.A. from Harvard Business School and a B.S. degree in industrial engineering and operations research from UC Berkeley.
Jennifer Zhu Scott is the co-founder and principal of Radian Partners, an advisory firm focusing on private investments with ‘double bottom lines’ – do well and do good. Prior, she was head of business development and strategy in APAC for Thomson Reuters. She co-founded one of the first education companies in China. In 2013, Jennifer was honored by the World Economic Forum as a Young Global Leader. In 2014, she was appointed as a member of China Council convened by the Global Agenda Council, the World Economic Forum’s think tank.
John Ng is a partner of SMC Capital. He has more than 20 years of experience in private equity, corporate M&A and operations. Since 2006, John has focused on China’s consumer sector. He has invested in more than a dozen of consumer-related companies, usually with cross-border and tech-enabling themes, including Ecmoho (China’s largest online distributor of nutrition supplements), YMT (first cross-border C2C player in China), Rider (top horse industry operator in China), Payeco (payment solutions), SheSays (cosmetic surgery chain) and Cartelo (fashion). Before joining SMC, John was a senior corporate M&A and strategic planning executive of Hutchison Whampoa. John was a TMT investment banker at Lehman Brothers in Hong Kong, and started his career in the financial advisory services team of PwC in New York. John is a director of Hong Kong Private Equity Finance Association, and an advisor to Shenzhen Stock Exchange’s consumer and TMT industry panels and the incubation program of Hong Kong Science & Technology Parks. He received his BA in Business Administration and MA in Accounting from the University of North Carolina at Chapel Hill. He graduated from Harvard Business School’s Executive Program, and is a CFA and CPA.