Basic Information

The Consumption Fund (formerly known as the RMB Mezzanine Fund), focuses on more concentrated and deeply involved equity investments and seeks optimal returns under controlled overall risks. The team has relevant and complementary skills and experience in private equity, investment banking, risk management, accounting and auditing, and asset management, with solid background in equity investment strategies.

China Everbright Limited is a cornerstone investor of the Consumption Fund. Endorsed by the Everbright brand, supported by its diversified channels, business resources, and social connections, and empowered by the in-depth understanding about selected industries, the Consumption Fund has cooperated with leading companies in relevant segments and the world’s top tier investment institutions.

Investment Strategies

The Consumption Fund focuses on food and beverage industries that have rigid demands. The fund values leading companies with large size, long life expectancy, potential for high growth, engagement in low-concentrated industry, and lucrative profits, as well as well-respected entrepreneurs. The fund achieves optimal returns by strict risk management, flexible strategies, and active post-investment engagement.

Historical Performance

As of September 2021, the team has raised and managed three main funds and three special funds and has invested in 18 projects. The accumulated investment totaled around RMB 6 billion with no loss recorded. For Fund I, all 6 investment projects have completed exits. For Fund II, 1 investment project has completed exit, 2 investment projects have completed IPO, and 1 investment project is in process of IPO filing. Phase II has fast-paced exit process and optimistic returns. For Fund III, the target size is RMB 3 billion and the first round fund raising has closed. For Fund III, 5 investments have been made, 1 of which is in process of IPO filing, and several reserve projects are expected to be engaged.

Hope Education

  • Leading private higher education group in China, ranking first in the Midwest and second in the country
  • Equity investment plus repurchase guarantees, as well as partial debt financing
  • As the only external institutional investor before listing, deeply participate in corporate strategic restructuring, corporate governance and Hong Kong listing preparation
  • Listed in Hong Kong in August 2018

Dekon Farming

  • Leading pig breeding enterprise in the west, cooperated with Alibaba Cloud to develop artificial intelligence breeding in China and achieved remarkable results.
  • Equity investment plus repurchase guarantee
  • As its sole external institutional investor, deeply participate in corporate governance, strategic planning and listing preparation, etc.
  • Plan to list in China
  • Ben Lu

    Managing Director

    Ben has rich experiences in banking and investment sectors for nearly 30 years with solid experiences in equity investment, debt financing, and risk management. He has worked for several large Chinese and foreign financial institutions in Canada, Hong Kong, Beijing, and Shenzhen. Before joining Everbright Limited in 2013, Ben was the Chief Representative of the Beijing Representative Office and Head of China Strategic Development at Scotiabank, and led direct investment projects in China. Ben holds a Bachelor's degree in International Finance from Renmin University of China, a Master's degree in Economics from The University of British Columbia, Canada, a Master's degree in Business Administration from University of Western Ontario, Canada, and holds lawyer's certificate of the People's Republic of China.

  • Coral Liu

    Managing Director

    Coral has rich experiences in fund investment as well as domestic and overseas corporate restructuring. Before joining Everbright Limited in 2012, Coral worked for Mingly China Growth Fund and Deloitte Consulting (Shanghai) Company. Coral holds a bachelor's degree from Fudan University and is a Certified Public Accountant.

  • 王碧玉

    Matthew Wang

    Investment Director

    Matthew joined the team in 2021. He worked for the research institute of Everbright Securities, Qiaqia Food Group, and the strategic investment department of Huabao International Group, and is experienced in industrial integration and strategic investment. He has more than 10 years of investment research experience in the consumer sector. Matthew holds a master's degree from University of Science and Technology of China.

  • Vivian Wan

    Senior Associate

    Vivian has worked for Ernst & young and other top 500 foreign-funded enterprises. She has rich experience in comprehensive financial management, internal control and merger and acquisition integration at the group and company level. Vivian holds double bachelor's degrees in finance and accounting from Zhongnan University of economics and law, and is a senior member of global Chartered Management Accountant (CGMA).

  • Bo Pang


    Mr. Pang worked in Guotai Junan Securities Co., Ltd. and has extensive experience in the company's domestic A-share listing, refinancing, mergers and acquisitions. Mr. Pang holds a Bachelor in Economics and Mathematics from the University of Chicago and is a Chartered Financial Analyst (CFA).

  • 杨文宁

    Will Yang

    Investment Analyst

    Will worked at PwC and joined Everbright Limited in 2021. Will holds a Master's degree in Accountancy from University of Rochester.

RMB Mezzanine Fund

Tel (021) 2089 0901
Fax (021) 2089 0999
Address 25/F, 21st Century Tower, 210 Century Avenue, Pudong New Area, Shanghai, China