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Lunar Capital Management
Lunar Capital builds and invests entrepreneurially in global luxury and lifestyle businesses. The firm focuses on sectors including art, culture and design,...
Lunar Capital Management
Lunar Capital builds and invests entrepreneurially in global luxury and lifestyle businesses. The firm focuses on sectors including art, culture and design, luxury fashion and accessories, fine dining, hospitality and experiences, and beauty and wellness. It operates from offices in Hong Kong and Shanghai, with a London office planned.
General information
Firm type
Private Equity
Year founded
2007
Location
Region
Asia
Country
China
City
Hong Kong
Corporate office
Shanghai, China
Principals
Derek Sulger
Founder and Managing Partner
Sector focus
Frequently asked questions
Who founded Lunar Capital Management and what is his background?
Derek Sulger founded Lunar Capital. He previously worked at Goldman Sachs and UBS before co-founding Linktone, a Chinese wireless entertainment firm he helped take public on Nasdaq. This operational experience shaped Lunar's hands-on investment approach.
What investment strategy does Lunar Capital pursue?
Lunar targets control and significant minority stakes in Chinese consumer, healthcare, education, and financial services companies. The firm focuses on mid-sized businesses with strong regional brands, deploying an operating-partner model to drive national expansion and professionalization.
How does Lunar Capital source its deals?
Lunar's deal flow relies heavily on the founder's deep local networks and reputation as a former operator. The firm avoids competitive auctions, preferring proprietary situations where founder-led businesses seek an operational partner rather than a pure financial investor.
Does Lunar Capital invest outside of China?
No. Lunar Capital invests exclusively in Greater China, with a deliberate geographic focus that underpins its sourcing and value-creation model.
How large is Lunar Capital's investment portfolio?
The firm has historically maintained a concentrated portfolio of approximately 10 to 15 active holdings, consistent with a high-engagement, control-oriented strategy rather than a diversified index approach.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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