SOURCE: FORBES CHINA

On December 10, 2024, Forbes China released its "2024 Top 100 Venture Capitalists" list, with Mr. Alan Song, Founding Partner and Chairman of Harvest Capital, ranking 19th on the 2024 Forbes Top 100 Venture Capitalists list, marking his sixth consecutive year on the list.

The success achieved by consumer investors this year has largely been attributed to IPOs and liquidity returns from past projects. Mr. Alan Song of Harvest Capital rose from 41st to 19th place thanks to a record-breaking cash exit from Eastroc Beverage, making him the highest-ranked investor focused on the consumer sector this year. This is not only a personal honor but also reflects the market demand for essential, high-frequency, livelihood-oriented, and necessity consumer goods.

The consumer industry serves as a stabilizer and ballast for China's economy, representing an essential path for China to transcend middle-income status and move toward high-quality Chinese-style modernization. Consumer and livelihood enterprises absorb massive employment, generate substantial tax revenue, and are a vital force for the healthy, orderly, and high-quality development of China's economy. Our investment decisions align with the beta of the times, resonating with the current macroeconomic environment.

China represents the world's largest unified market, with 1.4 billion people and enormous demands for basic necessities including food, clothing, housing, and transportation. Meeting the aspirations of 1.4 billion people for better lives offers tremendous room for progress and improvement.

From a long-term economic development cycle perspective, consumption, as the most promising, capable, and resilient component of the three economic drivers, will play an increasingly important role in China's future economic development journey. The contribution of final consumption to GDP, the role of the domestic demand market in driving future economic development and potential, and consumption's relationship to overall socioeconomic life, market entities, employment, and livelihoods demonstrate self-evident importance.

Harvest Capital firmly believes that everyone deserves a better life, Chinese people deserve better domestic brands, China's consumer market remains full of promise, and Chinese brands will have increasingly better development opportunities.

Since our establishment in 2007, we have experienced multiple cycles, navigated through various market trends and opportunities, and remained consistently active at the forefront of consumer investment. In 2024, Harvest Capital continued to invest in Xiaocaiyuan's Pre-IPO round, while our portfolio company Eastroc Beverage surpassed a market capitalization of RMB 100 billion once again.

As a specialized fund focusing on investments in the consumer and service industries, we maintain long-term attention to China's economy and consumption, adhering to investments in "high-frequency, essential, livelihood-oriented" sectors, capturing 80% of the needs of 80% of Chinese people.

As consumption warms and recovers, we remain bullish on China's consumer market for the long term and will continue to steadfastly cultivate the consumer sector. Supporting Chinese consumption, empowering domestic brands. Embracing everyday life, empowering people's livelihoods.

"Forbes China 2024 Top 100 Venture Capitalists" Complete List