Fang Yuyou, Proya co-founder, invested 20 million RMB ($2.8 million) for a 2.13% stake in L Catterton (Guangzhou) Consumer Equity Investment Fund Partnership, becoming the fund’s sixth-largest shareholder. This marks Fang’s second collaboration with the LVMH-backed firm following 2022 Chengdu fund investment. The Guangzhou-based fund, established in 2024 with nearly 1 billion RMB ($140 million), focuses on beauty, personal care, health, wellness, and Chinese brand globalization in the Greater Bay Area.