The partners will raise up to RMB2 billion ($388 million) to buy and store the foundation spirit used to make baijiu. For every three dollars Tembusu raises, the local partner, Renhuai city, will chip in a dollar.
(Nov 18): As a teetotaller, Lim Hwee Hua is deemed by her partners in China as the best person to be in a joint venture (JV) with — to fund the growth of the “baijiu” (white liquor) industry of Guizhou province, home to numerous such producers but whose most famous brand is the Kweichow Moutai. “There will be no pilferage,” quips Lim, co-chairman of Tembusu Partners, in an interview with The Edge Singapore.
On Nov 6, Tembusu announced it had launched its first China Guizhou Baijiu Fund in partnership with Renhuai Moutai Flavor Liquor Industry Development & Investment, an entity linked to the Renhuai city government and based in Guizhou province. Renhuai is known as the “liquor capital of China”, where the Renhuai red sorghum — the essential and key ingredient for making the fiery transparent liquor — is produced.
