Tiantu Investment Pan Pan Pan: There Is Room For New Brands In All Categories Of The Current Consumer Industry

From Zhou black duck and Dezhou grilled chicken ten years ago to Naixue's tea, Zhong Xuegao and three and a half meals. The projects invested by Tiantu are becoming more and more popular.

"We will disguise ourselves as the post-90s generation and go to the local area to experience consumers' buying habits and behavior habits." Pan pan, partner of Tiantu investment management, said that he would choose Changsha, Chongqing, Wuhan and other online Red cities for meetings with his team, because the most representative local Chinese consumers can be seen here.

Tiantu investment is one of the earliest consumer investment funds in China. In the era when the main line of consumption investment was consumption upgrading, they invested in a number of star projects such as Zhou Heiya and Dezhou grilled chicken.

"People are changing, consumption habits are changing, and the infrastructure of the business environment has changed dramatically." The superposition of many variables makes Tiantu investment focus on a new generation of consumer brands.

Pan Pan's projects in the field of consumption include Naixue's tea, Baiguoyuan, tea Yan Yuese, three meals and a half, Zhou black duck, Xiaoguo culture, baby greedy, left point, etc. This interview with him mainly focuses on consumer brand investment.

Behind the high hit rate

PE / VC investors should be able to keep close to the changes of the times, because they are investing in innovative things, even representing the future. As a veteran player in the local equity investment industry, Tiantu investment is also iterating to make its investment more forward-looking and find valuable enterprises earlier.

In the past few years, the evolution of Tiantu investment has also occurred in:

The investment stage extends from the typical growth period PE to angel and VC investment, and backward to holding merger and acquisition;

Under the theme of large consumption, the target enterprises have extended from consumer goods to technology-based investment, and have also explored the consumption level medical treatment;

Based on the management of RMB fund, the team initiated the establishment of PE fund and VC Fund in US dollar, and officially entered the ranks of "double currency GP".

Pan pan is the helmsman of Tiantu investment's early investment (managing partner of VC business unit). He is responsible for five funds covering angel and VC stages, four of which are RMB funds and one is US dollar fund. The above funds are all independent decision-making mechanisms.

He invested in Naixue's tea, tea Yan Yuese, Sandun and a half, which are all representatives of new local consumer brands in the market today. Earlier, Zhou Heiya, invested by Tiantu, brought huge returns to the fund.

In 2010, Tiantu investment invested 58 million yuan to Zhou Heiya, holding 10% of the company's shares. Since then, in Zhou Heiya's financing, Tiantu investment has also contributed. Today, the market value of Zhou black duck has exceeded 20 billion Hong Kong dollars.

New brand early investment

One of the reasons for the high hit rate of Tiantu investment under the theme of new consumer brands is the advance layout. For example, its tea in jiangxiaobai and Naixue, tea Yan Yuese and Sandun and a half are respectively in 2015, 2016, 2018 and 2019, and most of them appear as the earliest institutional investors.

It also depends on two aspects: insight from a deep understanding of the industry and the source of cases brought by the founder's friendly investment style.

Pan Pan said in a media interview in 2018, "if you can't make the first pitch, you don't want the track." More than two years later, the momentum of new consumer brands is still on the rise. He told reporters, "the first is dynamic. We hope that the projects we invest in will become the first in the industry."

The reporter learned that it was Pan Pan who promoted the tea investment in Naixue five years ago within the investment team. He believes that the essence of food and beverage enterprises is to occupy people's stomach. In the future, there will be many companies with a market value of 10 billion US dollars.

Peng Xin, the founder of Naixue's tea, told the media earlier that he accepted Tiantu's investment for two consecutive rounds, "because the other party has no gambling agreement, no speed requirement for opening a shop, and does not interfere in business management."

"We will see what's new in every industry." Pan Pan said that all categories in the current consumer industry are worth doing again. "There is no doubt that new brands will carve out a part of the market."