(ISELIN, NJ, JUNE 25, 2009) ecVision, a sourcing and supply chain management software provider, today announced an investment from Fung Capital USA, a private equity firm that invests primarily in consumer product and supply chain technology companies. Fung Capital acquired all non‐management shares in this transaction.
Fung Capital is the private equity partnership of Victor and William Fung, the Chairman and Group Managing Director of Li & Fung Ltd. The investment illustrates ecVision’s value to the retail supply chain and will leverage the international business network and expertise of the Li & Fung Group, a global leader in sourcing and supply chain management for major brands and retailers. “We are excited to continue to build our relationship with the Li & Fung organization as an integral part of the Fung Capital portfolio. Not only do we have a solid long term partner, we will immediately realize financial benefits by tapping into Fung Capital’s relationships,” said Thomas Ng, CEO and Founder of ecVision.
“Fung Capital’s move to support ecVision’s global operations will give them the backing they need – through both financial and strategic guidance – to continue to develop and deliver industry‐leading software,” said Michael Hsieh, President of Fung Capital.
ecVision’s flagship product, XpressCommerce®, is a modular, configurable, web‐based solution for private label owners and manufacturers to facilitate better relationships with trading partners through standardized documents and process flow from product concept to receipt. The end result is minimized risk, lower supply chain costs, improved speed to market and the protection of brand quality.
For over ten years, ecVision has operated from offices in the United States, Hong Kong, and China. XpressCommerce user base includes internal teams, suppliers, mills, factories, logistics providers, inspection agencies, and banks. Everyday, industry-leading companies around the world including Abercrombie & Fitch, BonTon, JCPenney, Li & Fung Ltd, New Balance, Phillips‐Van Heusen, Timberland and others use ecVision’s award‐winning software to effectively run their business.
ecVision provides sourcing and supply chain management software for private brands that enable collaboration and visibility with their supply network. To learn more about ecVision’s solutions, visit www.ecvision.com. Headquartered in New Jersey, ecVision has offices in Hong Kong and China, in addition to a partner network in 15 countries providing overseas support to worldwide users.
About Fung Capital
Fung Capital USA Fund (II) L.P. is the private equity investment arm of Victor and William Fung who are the controlling shareholders of the Li & Fung Group of companies. This investment is unrelated to any of the listed companies of the Li
& Fung Group. Fung Capital makes investments in supply‐chain related technologies as well as in consumer product companies primarily in the apparel, fashion accessories, home furnishings, gifts, health and beauty industries.