A dual-currency private equity firm focusing on Asia's fast-growing markets, managing over USD 2.5 billion in investments in digital economy, renewable energy, deep-tech and consumer sectors.

ZWC Partners

Founded in 2015, ZWC Partners (ZWC), is a dual-currency fund platform focusing on early-stage and long term investments. The fund's Asset Under Management (AUM) to date has exceeded 1.5 billion US dollars, covering nearly 15 unicorn companies.

ZWC provides capital support and value-added services for China and Southeast Asia innovative companies across Consumer Tech, Enterprise Services, and Industry Technology sectors.

ZWC investment portfolio includes Tantan, 4Paradigm, Yunhu Technology, Xiao Dian, Boss Zhipin, Baletu, Souche, Shuhe Group, Leyan Technologies, etc. Other investments from our affiliated fund inlcude Xpeng (XPEV), Mobike, VIPKID, Yitu Technology, JD Finance, Wattpad, Rootcloud, etc.

ZWC's co-founding shareholders include serial successful entrepreneurs and leading businessmen such as Mr. Jason Jiang Nanchun, who has strong insights and resources in the consumer and technology sectors.

ZWC adheres to our core investment philosophy - “Altruism” and we believe that this is the philosophy that makes enterprises great.

ZWC also integrates “Altruism” into long term operation and we consistently look for other sustainable business models and outstanding founding teams with “Altruism”. ZWC will continuously provide value-added services to help aspiring entrepreneurs to become future unicorn companies.

Gojek

Tantan

After the Election, the Property Industry Shone Brightly, but it became Cloudy due to Geopolitical Conflicts

After the election, many people expected the economic situation to be run better, including for the property sector.

As represented by the accumulative numbers of mortgage loans, which tend to slightly increase, especially after the election. Unfortunately, the uncontrollable factors from the geopolitics side increased the USD rate, leading to the incremental Central Bank Interest rate rising. The developers need to increase the property price as the cost of funds getting higher, meanwhile it will affect demand as well because property purchase costs and installments tend to be higher.

Facing this condition, the government has issued several solutions, such as free of Value Added Tax and LTV up to 100%. Developers also focus on the development in several areas which are known as having stable economic pace such as real estate near industrial sites within affordable prices +/- USD 20,000.


#ZWFMConsumuptionObservation

ZWFM is a market research institute joint venture setup by ZWC Partners and Focus Media, dedicated to carrying out research on global consumer market.

B1 and B2 levels of shopping malls are becoming more popular among Chinese young people

•In the past two years, an increasing number of new commercial projects have focused on developing the B1 and B2 levels in shopping malls. Many emerging consumer categories such as arcade games, handicraft workshops, and pet stores have been introduced. Numerous creative brands targeting a youthful demographic have organized popular IP exhibitions, flash events, and indoor music festivals, offering a comprehensive range of options to satisfy people's needs for food, drink, entertainment, shopping, and leisure. Some underground levels of shopping malls have even experienced a "one store hard to find" phenomenon.

•Many domestic brands prefer to open their offline stores on the B1 and B2 levels of shopping malls. Consequently, besides the traditional dining options, these levels often feature a concentration of emerging brands, such as trendy toys, innovative tea beverages, and beauty products. These brands attract young people with their high cost-effectiveness and high level of enjoyment.

#ZWFMConsumuptionObservation

ZWFM is a market research institute joint venture setup by ZWC Partners and Focus Media, dedicated to carrying out research on global consumer market.

Chinese Chain Fast Food Stores Growing Rapidly

•Since 2023, the fast food sector has entered a period of rapid development in China. Many fast food brands are expanding their presence in the country. Yum China plans to reach 20,000 stores by 2026. McDonald's China also plans to open 900 new restaurants in 2023, setting a record for its fastest expansion since entering mainland China.

•The rise of Chinese-style burgers is a significant change in the Western-style fast food category in recent years. Take Tastin as an example, from 2019 to 2023, the number of Tastin stores has grown from double digits to over 6,000. In the first nine months of 2023 alone, Tastin opened over 2,400 new stores, showing strong expansion momentum.

#ZWFMConsumuptionObservation

ZWFM is a market research institute joint venture setup by ZWC Partners and Focus Media, dedicated to carrying out research on global consumer market.

Chinese Brands Lead The Rise of EVs in Indonesia Automotive Market

Q3 of 2022 marked an important moment for EV cars, as Wuling launched the Air EV, which is seen as the lower price/affordable version of an EV car (price starting from IDR 200 Mio = CNY 100,000).
Contributing to mass people’s willingness to start adopting EVs.
Wuling Indonesia believes, that the year 2024 will be an important momentum, as the post-election will increase the willingness of people to spend their budget, including buying any automotive products.

•Where various EV brands will enter the Indonesian market, hence bringing more options to the market
•Expecting more EV options in the market, will fasten the market adoption and hence will push the government and other supporting industries, to provide the EV infrastructure and supporting regulations,
•such as discounts for value-added tax and luxury tax, including the EV
car excluded from odd-even numbers in driving road regulation.
Although some aspects still limit EV adoption such as expensive retail prices (than ICE/fuel engine), concern about long-term battery durability, the extra cost needed for battery replacement, reliability of distance and charging time, limitation of charging infrastructure, limited knowledge of maintenance and after-sales services.

#ZWFMConsumuptionObservation

ZWFM is a market research institute joint venture setup by ZWC Partners and Focus Media, dedicated to carrying out research on global consumer market.

Expired food stores are developing rapidly in China

•Low prices have become one of the recent booming consumer trends in the domestic market. Currently, there are over 500 Hotmax stores, and it is expected to grow rapidly. Freshippo Outlets is also accelerating its expansion in Shanghai and plans to build outlets stores in every village and town.

•The industry of near-expiry food products experienced accelerated development in 2022, with a market size of ￥33.7 billion. It is projected to reach ￥35.7 billion in 2023 and is expected to reach￥40.1 billion by 2025. The near-expiry economy may become a new industry trend.

#ZWFMConsumuptionObservation

ZWFM is a market research institute joint venture setup by ZWC Partners and Focus Media, dedicated to carrying out research on global consumer market.

In China, coffee is entering the lower-tier market at an accelerated pace

According to the "2022 China Freshly Brewed Coffee Category Development Report" released by Meituan Food in collaboration with Ka Men, it is projected that the number of coffee shops in China will exceed 130,000 in 2023. The coffee market in lower-tier cities is experiencing tremendous growth potential, with transaction volume in third-tier and below cities growing by nearly 50% year-on-year.

As more and more people discover niche rural attractions, various new consumer formats are emerging in rural areas. There are already over 30,000 notes on RED(Xiaohongshu) about “rural coffee,” with over 8,600 notes specifically about “rural coffee shops.” The hashtag #rural coffee has garnered 6.7638 million views on Douyin (TikTok).

#ZWFMConsumuptionObservation

ZWFM is a market research institute joint venture setup by ZWC Partners and Focus Media, dedicated to carrying out research on global consumer market.

ZWCP

COM:ZWCPARTNERS

ZWC Partners

locale

market

industry

website

linkedin

founding date

invested in

Metrics