Four Primavera Portfolio Companies Made TIME100 Most Influential Companies
In addition to its iconic list of TIME100 Most Influential People, TIME magazine has this year introduced a new list: TIME100 Most Influential Companies, which highlights the companies making an extraordinary impact around the world and shaping our collective future. Four of Primavera’s portfolio companies are named among the inaugural list, including Yum China, Alibaba, ByteDance (TikTok’s parent company), and Didi Chuxing.
To assemble the list, TIME solicited nominations across sectors including health care, entertainment, transportation, technology and more, from its global network of editors and correspondents, as well as from industry experts. Each nomination was then evaluated on key factors, including relevance, impact, innovation, leadership, ambition and success.
Fred Hu, founder and chairman of Primavera Capital Group said, “We extend our sincere congratulations to the four portfolio companies of Primavera and all the other Chinese companies on making the prestigious list. This has demonstrated the rise of China as the second-largest economy in the world, as well as the world’s recognition of China’s growing innovative capability.”
He specifically pointed out the impressive achievement of Yum China as a consumer goods company to be recognized as one of the leading “innovators” on the list, among other successful tech companies such as Zoom, TikTok, and Moderna. “For the past five years, especially following Primavera’s strategic investment, Yum China has been on a journey of transformation and upgrading. Through the use of innovative technologies, Yum China redefines every touchpoint of the customer journey. It is now more like a tech company than a traditional restaurant company.”
Below are TIME’s writeups on these four companies and their stories with Primavera:
Yum China – “Inventing the future of fast food”
Fred Hu is currently the non-executive chairman of Yum China, and Mr. William Wang, Primavera’s founding partner, also serves on the board. “We’re especially glad to see many outstanding women in the management positions of the chosen Chinese companies and Yum China’s CEO, Ms. Joey Wat is one of them,” said Fred Hu. “Being on the list is an incredible honor to the company, as well as an inspiration for us to move forward with continuous innovations in the face of the changing times.”
TikTok (ByteDance) – “Grabbing the world’s attention”
Technological innovation has always been of tremendous interest to Primavera since we believe it is the driving force of economic development and entrepreneurship in China. Primavera has been following ByteDance from its early stage, and after the investment, the two companies have maintained close communication on areas such as development strategies and capital market opportunities.
Alibaba – “Coalescing e-commerce”
Primavera has worked closely with Alibaba on many fronts and continues to provide suggestions and support on macro studies, mobile payment, fintech, M&A, and other subjects.
DiDi Chuxing – “Driving the future of mobility”
Primavera has focused investments on the consumer sector since its early days. Mobility is an important part of consumption upgrade, which sheds light on the investment potentials of using technologies to improve the efficiency of resource allocation, as well as conserving energy and reducing emissions to promote the green economy. After the investment, Primavera has been sharing insights and supporting empowerment in DiDi’s decision-making and development.