Dayone Capital Fund I Closes at $630m with Oversubscription

Sep 1, 2021 | News

Dayone Capital announced today the final closing of Dayone Capital Fund I L.P., its first US-denominated private equity fund, with a total capital commitment exceeding $630m, surpassing the initial fundraising target of 500m.

As a debut fund, Dayone Fund I was oversubscribed thanks to the backing of a group of top global institutional investors, including sovereign funds, fund of funds, family offices as well as leading Chinese internet and consumer strategics.

Dayone is a multi-stage consumer investment manager founded by Allen CHEN, a proven consumer entrepreneur and experienced investor. The firm focuses on long-term investment opportunities in selective consumer verticals that are subject to structural changes over the next decade. The core team is comprised of seasoned serial entrepreneurs, investment veterans from top-tier investment institutions, and experts with senior management level operational experience.

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Allen Chen, Founder and Managing Partner of Dayone Capital, said: “Having been able to successfully fundraise in such a short time window is an important milestone for Dayone Capital’s long journey ahead, we are deeply grateful to our LPs for their trust and support. At Dayone Capital, we are entrepreneurs embarked on a mission: to provide our staunchest support for entrepreneurs who are committed to creating long-term value for consumers.“

As a consumer specialist, Dayone Capital believes that its multi-stage investment strategy is highly aligned with the evolution of China’s consumer industry. The fund is well positioned to capture growth opportunities from both the rise in new brands as well as the transformation of legacy brands. “Dayone has its DNA deeply rooted within the consumer industry and I firmly believe that specialization will be a key factor in delivering alpha in going forward. China is currently shifting gears in its business infrastructure, rapid adoption of digital technologies alongside has created an ever more integrated supply chains, retail and distribution solutions. These underlying structural dynamics are reshaping the consumer landscape and empowering the emergence of new companies as well as the transformation of legacy brands, so we need to have a holistic multi-stage strategy to capture the right set of opportunities.”

Source: PR Newswire

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