CCV’s Portfolio Perfect Corp. and Provident Acquisition Corp. Complete Business Combination

• Perfect‘s Shares and Warrants to Trade on the NYSE under Ticker Symbols “PERF” and “PERF WS” respectively

CCV’s early-stage portfolio company Perfect Corp. (“Perfect”), a global leader in providing augmented reality (“AR”) and artificial intelligence (“AI”) Software-as-a-Service (“SaaS”) solutions to beauty and fashion industries, and Provident Acquisition Corp. a special purpose acquisition company,announced the completion of their previously announced business combination (the “Business Combination”).

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The listed company resulting from the Business Combination will be called Perfect Corp, and its shares and warrants will commence trading on the New York Stock Exchange under the ticker symbols “PERF” and “PERF WS” respectively,

Perfect is also the second IPO that the CCV team has harvested since was listed in Hong Kong Stock Exchange earlier this year.

Perfect is the market leader in the global beauty tech sector, with over 400 beauty brands, including 17 of the world’s top global 20 beauty groups, utilizing Perfect’s AR and AI SaaS solutions in 80 countries globally, as of December 31, 2021, according to Frost & Sullivan.

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The PIPE transaction is backed by blue-chip investors including CHANEL, CyberLink, Shiseido, and Snap as well as reputable financial investors.

Wei Zhou, the founding and managing partner of CCV, was impressed by Alice and her team in their first meeting. “I’ve always believed in Alice and her team to make history and we think Perfect will continue to achieve greatness in the global market,” said Wei.

CCV devotes to early-stage investments in AI technology. Besides Perfect Corp, CCV has also invested in other leading AI companies, such as Shukun Technology, a leading AI medical company that focuses on diagnostic systems for chronic diseases; Quicktron, an AI robotics company that focuses on intelligent warehouse robotics and logistics systems.

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[To share your insights with us, please write to sghosh@martechseries.com]

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