New-Style Premium Baijiu Brand "Kaishan" Closes Two Funding Rounds in Three Months, Led by Source Code Capital in A+ Round

源码资本·May 8, 2019·0·0

New-premium baijiu brand "Kaishan" closed its Series A and A+ rounds within three months, with Hillhouse and Source Code Capital as investors. Following this financing, Kaishan has become one of the most eye-catching early-stage bets in the consumer upgrade space.

New-premium baijiu brand "Kaishan" closed both its Series A and A+ rounds within three months, with Hillhouse and Source Code Capital as investors. Following this financing, Kaishan has emerged as a standout star among early-stage consumer upgrade projects.

Kaishan was founded to address the pain points younger generations face when drinking premium baijiu, aiming to build a brand with long-term value and massive commercial potential in a trillion-RMB market. "Traditional Chinese baijiu may face a significant generational disconnect," said Tang Wei, Kaishan's founder and CEO. "Kaishan hopes to carry that baton forward, making young people feel proud to drink Chinese baijiu — not just Kweichow Moutai."

Image source: Kaishan

Kaishan has made substantial innovations in product R&D, breaking free from traditional constraints by creating a new aroma category beyond the existing twelve mainstream types — the "Jingxiang" (pure aroma) style, which has proven highly popular with young consumers. Using rice as its primary ingredient, the company has implemented international and digital upgrades in production control, achieving several times the efficiency of traditional baijiu production. The resulting flavor profile combines a notably full grain aroma with floral and fruity sweetness in an internationally appealing fusion style, while significantly improving post-drinking comfort.

Another distinctive advantage is Kaishan's core management team, composed entirely of post-1980s executives and key middle managers from baijiu, spirits, wine, and Fortune 500 FMCG companies. They bring deep industry expertise alongside strong innovation capabilities and precise marketing skills — a highly competitive combination compared to the traditional liquor industry, where the average practitioner is over 43 years old.

In marketing and positioning, Kaishan's strategic starting point is to create a "premium social currency" for the new elite. With new flavors, new occasions, and new attitude as entry points, the brand leverages top-tier IP partnerships, high-end communities, and pioneering KOLs to cultivate a social drinking atmosphere around new-premium baijiu, ultimately establishing Kaishan as a premium spirits brand that embodies the spirit of the era's new elite.

Tang Wei, Founder & CEO of Kaishan

When asked whether new-premium baijiu is merely a passing trend, Tang Wei responded: "We don't see this as a quick-money fad. Every generation of men only embraces a very limited number of social currency brands — that's tied to the conservative nature of male consumption. Yet products that successfully become social currencies tend to become the most enduring classic brands of their era. So this is the right thing to do, but a difficult one. And that's exactly why we're called Kaishan — 'to blaze a trail.'"