China's Yingke PE raises $286m

Shuqing Wu, a partner at Yingke, said the firm provides customized product design services that meet the needs of large financial institutions. The wealth management arms of domestic banks and insurance asset managers make up half the LP base, according to a statement.

The final close comes a month after Yingke raised RMB4 billion for a fund that targets companies developing innovative technologies.

In addition to private equity, the firm runs strategies for convertible bonds and quantitative investments. In the first half of the year, the firm generated a 40% annualized return on the former and an 11.2% return on the latter.

Founded in 2010, Yingke's assets under management (AUM) totaled RMB40 billion at the end of 2019. It has made approximately 200 investments across the biomedical, new energy, military, aerospace, and consumer upgrade spaces. More than 40 portfolio companies have gone on to achieve public market listings.

Yingke recently joined a RMB500 million Series C for EOC Pharma, a biotech developer focused on cancer treatments. It also led a RMB810 million pre-IPO round for Phylion Battery, a manufacturer of lithium-ion batteries used in electric vehicles (EV).

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• Topics
• Greater China
• Fundraising
• Renminbi fund
• GPs
• LPs
• China