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SEAVI Advent Announces Investment in Leading CRM SaaS Provider, Xuan Wu Cloud Technology

August 2022

SEAVI Advent Private Equity today announced that its latest fund, SEAVI Advent Equity VII (Special Situation) Fund I has completed an investment in Xuan Wu Cloud Technology Holdings Ltd (the “Company”) (Stock Code: 2392.HK), a leading intelligent Customer Relationship Management (“CRM”) SaaS company focused on serving mid and large-cap enterprise customers in the People’s Republic of China (“China”). The Company provides comprehensive one-stop CRM SaaS solutions bundled with multi-channel communication-platform-as-a-service (“cPaaS”) capabilities covering the entire business cycle from marketing, sales to after-sales services.

Founded in 2010, the Company started off providing cPaaS services which consolidated telecommunication resources and fulfilled clients’ multi-channel communication demand. Recognising the huge market potential in the CRM SaaS industry, the Company pivoted early into the CRM SaaS segment which is synergistic with its existing cPaaS platform. The Company’s CRM SaaS business comprises three types of cloud services, namely marketing cloud, sales cloud and services cloud and integrates the traditional CRM functions with cloud services as well as upgraded and encapsulated communication capabilities.

Utilising its CRM SaaS capabilities as its unique key selling proposition to prospective clients, the Company seeks to cross-sell its cPaaS capabilities and empowers clients with the ability to customise unique CRM strategies since effective and personalised communication with clients’ end customers is essential in the CRM process.

According to Frost & Sullivan report (the “Report”), the total addressable market (“TAM”) of the CRM services in China is massive at RMB458 billion in 2021, within which the intelligent CRM services market has a TAM of RMB71.8 billion. According to the Report’s forecast, the TAM of intelligent CRM services market in China is expected to grow at CAGR of 31.3% to reach a TAM of RMB280 billion by 2026. The Company, which has a leading position in the industry, is well poised to expand its market share as the industry grows and undergoes consolidation.

The Company has an early-mover advantage in the intelligent CRM industry and this has enabled it to accumulate invaluable industry knowledge and an extensive track record with leading mid and large-cap enterprises within the four focused verticals of FMCG, Financial, Government-related and TMT industries. The Company was ranked amongst the top three in terms of revenue generated within the verticals of Financial, Government-related and TMT industries in 2020 and it currently serves more than 20% of the Top 100 companies within the FMCG industry. SEAVI Advent sees strong potential in the Company, and believes it will continue to consolidate its position as a leading player in CRM SaaS industry in China.

About SEAVI Advent Private Equity

SEAVI Advent Private Equity, the independent Asian associate of Boston based private equity firm Advent International Corporation, is one of the first private equity and venture capital firms to operate in the Asia Pacific region. Since 1984, the firm has invested over US$600 million into more than 120 Asian companies, from growth to late stage, as well as buyout and control transactions. With a proven track record that includes ranking fourth on Preqin’s Top 10 performance funds for the vintage 2003/04, SEAVI Advent has been instrumental in delivering value to many of its portfolio companies, and has developed an extensive record of successful investments, which include Universal Health International Group (2211.HK), Hainan Shuangcheng Pharmaceutical Co. Ltd (002693.SZ), and Clarity Medical Group (1406.HK) in the healthcare sector; Weimob Inc. (2013.HK), Huitongda Network (9878.HK), and Sinofriends in the TMT sector; Tsaker New Energy (1986.HK), and Pengyao Group (300664.SZ) in the new energy & advanced manufacturing sector. In recent years, SEAVI Advent has strengthened its emphasis on B2B technology and the SaaS sector as it believes that China’s digital transformation of enterprises is gathering pace and showing immense growth potential in the world’s second largest economy. SEAVI Advent Equity VII (Special Situation) Fund I is a sub-fund registered under SEAVI Advent Equity VII Fund VCC, an umbrella Variable Capital Company that invests in non-control public securities and profitable late-stage private companies.

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