Definitive Agreement


Primavera Capital Acquisition Corp.

External link: SEC Filings



Fred Hu is our founder . Dr. Hu is the founding chairman of Primavera Capital Group. Prior to founding Primavera, Dr. Hu held various senior positions at Goldman Sachs from 1997 to 2010, where he was instrumental in building the firm’s franchise in the region and led some of the largest and most significant transactions in the firm’s history. He was a Partner and chairman of Greater China from 2008 to 2010 and a Partner and Co-Head of Investment Banking China from 2004 to 2008. Before that, he held the position of Goldman Sachs’ Chief Economist. From 1991 to 1996, Dr. Hu served as an economist at the International Monetary Fund in Washington, DC, and after that was Co-Director of the National Center for Economic Research and a professor at Tsinghua University. Dr. Hu is currently the Non-executive Chairman of the Board of Yum China Holdings. He is also a board member of ICBC, UBS Group AG, Hong Kong Exchanges and Clearing Limited, China Asset Management, Minsheng Financial Leasing Co., China Medical Board, Chinese International School, Nature Conservancy Asia Pacific Council, China Venture Capital and Private Equity Association, and the Global Advisory of the Council on Foreign Relations. In addition, Dr. Hu sits on the Hong Kong Government's Strategic Development Committee and the Advisory Committee for the Hong Kong Securities and Futures Commission. Dr. Hu holds a Master in Engineering Science from Tsinghua University, and a Master and Ph.D. in Economics from Harvard University.

Tong “Max” Chen has served as a member of our board of directors and as our Chief Executive Officer since our inception, and as our Chief Financial Officer since September 12, 2020. Mr. Chen is a partner and a founding member of Primavera Capital Group, which he joined in 2010. At Primavera, Mr. Chen is responsible for sourcing, executing and exiting a variety of deals in the consumer and technology sectors, including investments in Alibaba Group, Ant Financial, Cainiao Smart Logistics, Alibaba Local Services Group, iResearch, Vitaco Health and Linksure Global. Prior to Primavera, Mr. Chen worked at the Investment Banking Division of Goldman Sachs in both Hong Kong and New York from 2003 to 2006. Mr. Chen holds a Bachelor of Arts degree in Applied Mathematics from Harvard College. He also received his JD and MBA degrees from Harvard Law School and Harvard Business School, respectively.

Chenling Zhang will be appointed to our board in connection with the offering. Ms. Zhang is the founder of VCLEANSE, a leading cold-pressed juice company in China. Ms. Zhang founded VCLEANSE in Shanghai, China in 2012, with a vision to inspire healthy lifestyles in China. VCLEANSE is now a key supplier to Alibaba Group’s Freshippo supermarket chain, the China International Import Expo, and other leading hospitality groups and restaurant chains in China. In addition, Ms. Zhang is a key opinion leader among Chinese female entrepreneurs and various healthy lifestyle social groups. VCLEANSE was one of the earliest community partners for Lululemon Athletica in China and Ms. Zhang is currently a Lululemon ambassador. She has also worked with a variety of other global brands on their branding strategies and marketing campaigns in China. Prior to VCLEANSE, Ms. Zhang worked at Audax Private Equity Group in Boston and the Investment Banking Division at Morgan Stanley in New York City from 2005 to 2012. Ms. Zhang received her bachelor’s degree in Applied Mathematics from Harvard University.

Muktesh Pant will be appointed to our board in connection with the offering. Mr. Pant was Chief Executive Officer of Yum China Holdings from 2016 to 2018 and, since 2018, has served as Vice Chairman and Senior Advisor to Yum China Holdings. He was the President of the China Division of Yum Brands from 2015 to 2016. Mr. Pant held several leadership positions with Yum Brands from 2005 to 2015, including Chief Executive Officer of KFC, Chief Executive Officer of Yum Restaurants International, President of Taco Bell International, and Chief Marketing Officer of Yum Restaurants International. Prior to Yum Brands, Mr. Pant spent over 15 years at Unilever, and subsequently spent a decade at Reebok International where he was the Chief Marketing Officer. Mr. Pant also served as a director of Pinnacle Foods from 2015-2018, where he was also a member of the Audit Committee. Mr. Pant graduated with a B Tech degree in Chemical Engineering from the Indian Institute of Technology, Kanpur in 1976, and is a recipient of the Institute’s Distinguished Alumnus Award.

Teresa Teague will be appointed to our board in connection with the offering. From 2016 to present, Ms. Teague has served as Co-Founder and Co-CEO of TTB Partners Ltd. From 2008 to 2016, Ms. Teague served as Head of Sponsors, Consumer Retail, TMT and Healthcare, Asia ex Japan at Goldman Sachs International Asia, Hong Kong. Ms. Teague was the Managing Director of the Sponsor Coverage Group at Bank of America, New York from 2006 to 2008. Prior to that, Ms. Teague was the Managing Director of the Financial Sponsors Group at Goldman Sachs, New York. From 1997 to 2005, Ms. Teague held several positions with Goldman Sachs International, London, including Executive Director of the Consumer Retail Group, M&A Advisory Group and the High Yield Capital Markets group. Ms. Teague has an MBA from Harvard Business School and a BA in Political Science from Dartmouth College.

Sonia Cheng will be appointed to our board in connection with the offering. From March 2012 to present, Ms. Cheng has served as an executive director of New World Development Company Limited (“NWD”), a listed public company in Hong Kong (HKEx Stock Code: 0017). She is also a director of certain subsidiaries of NWD and currently oversees NWD’s hotel division. From April 2019 to present, Ms. Cheng has served as a non-executive director of Chow Tai Fook Jewellery Group Limited, a listed public company in Hong Kong (HKEx Stock Code: 1929). Ms. Cheng has served as the chief executive officer of Rosewood Hotel Group since August 2008. She has been the chairman of the advisory committee of the School of Hotel and Tourism Management at The Chinese University of Hong Kong since August 2014. Ms. Cheng obtained a Bachelor of Arts Degree in Applied Mathematics with concentration in Economics from Harvard University in the United States of America in 2003.