Growth Equity
Primavera Capital Group
Primavera Capital Group takes minority stakes in growing companies, usually without full control, from Asia-Pacific. It states a focus on software & internet and consumer & retail.
Stated investment criteria
What Primavera Capital Group says it buys
Read from Primavera Capital Group’s own website in August 2026. This is what the firm says it buys, not what anyone has recorded it buying, and figures are shown in the currency the firm itself used - nothing here is converted. Every line links to the page it was read from.
A stated mandate is a firm’s description of itself and was true of the page on the day it was read; firms widen and narrow what they will look at without updating the site. Primavera Capital Group states that it takes majority or outright ownership. Nothing here is a commitment by Primavera Capital Group to consider any particular business, and nothing on this page is represented as being for sale.
SEC filings
What Primavera Capital Group has raised
From this firm's own Form D filings. A fund files one within fifteen days of its first sale, under penalty of perjury, which makes these the hardest numbers on the page.
| Vehicles filed | 12 |
| Total capital raised | $2.8bn |
| Largest single vehicle | $1.2bn |
| Filing history | 2014 to 2025 |
| Smallest accepted commitment | $250k |
| Filed from | CAYMAN ISLANDS |
Form D covers US-domiciled vehicles raised from accredited investors. It will not capture a fund raised outside the United States, separately managed accounts, or capital deployed off balance sheet, so treat these as a floor rather than a total.
Regulatory record
How Primavera Capital Group is registered
From this firm's Form ADV, the annual filing every registered and exempt investment adviser makes to the SEC.
| Adviser status | Exempt reporting adviser |
| Regulatory assets under management | Not reported by an ERA |
| Private funds advised | 4 · $11bn gross |
| SEC adviser number | CRD 162044 |
An exempt reporting adviser is not required to report regulatory assets under management, so the blank above means the question was not asked rather than that the answer is unknown. Where a figure exists it is the gross asset value of the private funds the firm advises, which is a different and usually larger measure.
Portfolio
Disclosed holdings
Companies Primavera Capital Group lists on its own website. No investment years are published.
| Company | Invested | Years held | Recorded transaction |
|---|---|---|---|
| 8F7CB4808FCE87DDE3B5D9E2E36CB16960A711D5_size850_w1700_h1167 | — | — | — |
| Breitling | — | — | — |
| Envision Group | — | — | — |
| Junlebao-2 | — | — | — |
| LBX_Pharmacy-2 | — | — | — |
| Yum China | — | — | — |
| xpen-website2 | — | — | — |
Compiled from Primavera Capital Group’s published portfolio page. Where a recorded transaction is shown, that company was the target of a reported deal and has most likely already been realised. Nothing here is represented as being for sale.
Valuation context
Transaction values in Software & Internet
What companies have actually sold for in software & internet, across 2,672 recorded transactions.
The full software & internet picture - most active acquirers, recent transactions and every investor in the sector.
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Comparable investors
Similar mandates
Other growth equity investors active in software & internet.