Fundraising FoxFountainVest Partners
Private equityHong Kong · Growth–Late Stage
Also known as FountainVest · FOUNTAINVEST ADVISORS LTD · FountainVest China · FOUNTAINVEST PARTNERS HOLDINGS LTD.
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Investment thesis
FountainVest is an established independent private equity firm investing across Asia, targeting businesses positioned to benefit from the rising middle class, expanding domestic consumption, and increasingly sophisticated industrialization. It operates as a hands-on, disciplined investor with innovative approaches, deep sector focus, and operationally driven value creation. The firm leverages experience investing through multiple cycles, strong ecosystem and strategic partnerships, and operational expertise to help transform portfolio companies and realize their full potential at the intersection of Asia and the rest of the world. Its core sectors are consumer, industrial and business services, and healthcare, with a team drawn from diverse backgrounds across Greater China, North America, Europe, and Asia-Pacific.
Source: firm website, verified Oct 1, 2026.
What they invest in
from 3 of 8 portfolio companiesAdvanced Manufacturing ×2Biotech ×1Circular Economy ×1Consumer ×1Healthtech ×1Logistics & Supply Chain ×1Retail Tech ×1Sports Tech ×1
HQs:Australia×1
Investments · 8 tracked
founders shown can be your intro path
Amer Sports is a global group of sports and outdoor brands—including Arc'teryx, Salomon, Wilson, Atomic, and Peak Performance—that make apparel, footwear, equipment, protective gear, and accessories for athletes and consumers.
Advanced ManufacturingConsumerRetail TechSports Tech
Co-investorsHongShan Capital Group
Antengene is a biopharmaceutical company that develops therapies for cancer, with a pipeline focused on hematologic malignancies and solid tumors including Claudin 18.2, CD73, PD-L1/4-1BB bispecific, and CD24-targeting candidates.
BiotechHealthtech
Jay Mei(Founder)
Co-investorsDecheng CapitalQiming Venture PartnersBoyu Capital
Loscam operates a pallet pooling network across Asia-Pacific, providing reusable pallets, crates, bins, and related logistics equipment to businesses.
Advanced ManufacturingCircular EconomyLogistics & Supply Chain
Co-investorsCITIC Capital Holdings
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
CJ RokinLBX PharmacyMaoyan EntertainmentSML GroupSPT Group
Exits · 1
1 IPOsAmer SportsNYSE: AS
Fund performance · per public LP disclosures · 7
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| FountainVest Capital Partners Fund IV, L.P.LPs: Washington State Investment Board | 2021 | — | -10.4% | 0.70x | 0.00x |
| FountainVest Partners Fund IVLPs: California State Teachers' Retirement System | 2021 | — | -10.3% | 0.76x | 0.00x |
| FountainVest China Capital Partners Fund III, L.P.LPs: Washington State Investment Board, California State Teachers' Retirement System, New Mexico Public Employees Retirement Association | 2017 | — | 10.9% | 1.60x | 0.65x |
| FountainVest China Growth Cap Fund IILPs: The Regents of the University of California | 2013 | — | 16.1% | 1.60x | 1.09x |
| FountainVest China Growth Capital Fund II, L.P.LPs: Washington State Investment Board, Empire State Development – New York Ventures, San Diego County Employees Retirement Association +1 more | 2013 | — | 11.4% | 1.40x | 1.36x |
| FountainVest China Growth Capital Fund, L.P.LPs: Washington State Investment Board, California State Teachers' Retirement System, The Regents of the University of California | 2008 | — | 6.7% | 1.40x | 1.36x |
| FountainVest Chinn Growth Capital Fund, L.P.LPs: The Regents of the University of California | 2008 | — | 9.6% | — | 0.00x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has FountainVest Partners made?
- FountainVest Partners has 8 tracked investments, 1 of which have exited.
- What stage does FountainVest Partners invest at?
- FountainVest Partners invests at the Growth, Late Stage stages.
- What sectors does FountainVest Partners focus on?
- FountainVest Partners focuses on Advanced Manufacturing, Consumer, Healthtech.
- Where is FountainVest Partners located?
- FountainVest Partners is headquartered in Hong Kong, HK.
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