CLSA Capital Partners, the alternative asset management arm of CLSA, has invested via Sunrise Capital II into Japan-headquartered El Dorado Ltd, Lcode Ltd, and Hong Kong-headquartered CANDY MAGIC International Limited (collectively the “El Dorado Group”), a group of companies specializing in the design, manufacture and sale of beauty contact lenses.

Sunrise II is a CLSA Capital Partners’ fund that invests in established, mid-cap companies with strong growth potential in Japan.

Since its establishment in 2007, the El Dorado Group has been credited with pioneering the Japanese beauty contact lenses industry and has played a role in promoting the use of beauty contact lenses as a new style of eye make-up.

The El Dorado Group manages multiple brands such as “Candy Magic” and “ReVIA” which are positioned to accommodate the various fashion needs and styles of their consumers and are highly popular among all age groups of female users. The El Dorado Group established a Hong Kong presence in 2015 to pursue further growth through Asian expansion, mainly targetting Hong Kong and Mainland China.

Upon investment, Sunrise II and the El Dorado Group’s founder and major shareholder, Tomohiro Fujiwara, will jointly establish an SPC, CM Holdings Ltd. Following the transaction, the companies affiliated to the El Dorado Group will become 100% subsidiaries of CM Holdings Ltd.

The El Dorado Group will retain the existing management team, company names, brand names and does not anticipate material changes in the business’ operations.