The Chearavanont family—who draw their wealth from the Charoen Pokphand Group—have jointly formed a fund with Los Angeles-based LDA Capital to invest in publicly listed and pre-IPO high-growth companies across Southeast Asia.
The partners are targeting capital commitments of about $2 billion over the next 12 to 18 months, according to a joint statement. LDA and CP Group’s Charoen Energy and Water Asia (CEWA) will combine their expertise and industry knowledge to identify potential investments across the region.
“Our team has a 20-year track record providing flexible funding to global growth companies who traditionally have been under capitalized by regional banks and local investors,” Anthony Romano, cofounder of LDA, a global alternative investment firm established in 2018, said in the statement. “Partnering with CEWA and CP Group family enhances LDAs ability to access business leaders across Southeast Asia and provide necessary innovative and flexible funding solutions to support growth.”
Dubbed the CPFam-LDA Asia Growth Fund, it aims to level the playing field for middle market businesses looking to grow and compete on a global level. “The fund is another excellent financing resource to support growth businesses and entrepreneurs across Thailand and Southeast Asia,” said Chatchaval Jiaravanon, the fund’s director.
Chatchaval is the son of Sumet Jiaravanon, 88, executive chairman of CP Group and brother of CP Group senior chairman Dhanin Chearavanont, 84. CP Group is one of the world’s largest producers of animal feed and livestock. The company was started by Chatchaval’s grandfather Chia Ek Chor, who along with his brother Choncharoen Chiaravanont, opened a shop selling seeds imported from China to Thai farmers in 1921. Apart from agribusiness, it has interests in automotive, pharmaceuticals, retail, real estate and telecommunications. The Chearavanont brothers topped the most recent ranking of Thailand’s 50 Richest with a net worth of $34 billion.