Qingsong Fund, a Chinese VC firm formed by Alvin Liu, an angel investor and co-founder of Tencent Holdings, has closed its third renminbi-denominated fund at RMB850 million ($129 million).
PAG Asia Capital is raising a $500 million China growth fund, which will enable the firm to target middle-market deals that fall below the minimum check size for its pan-Asian vehicle.
Project funds have become popular in China on the back of increased demand for PE exposure from corporates and high net worth individuals. It remains to be seen if they have true staying power
China and Russia have agreed to invest about $10.5 billion in two cross-border development funds as part of the One Belt One Road (OBOR) initiative.
CITIC Capital Partners has closed the US dollar-denominated portion of its latest China fund at the hard cap of $1.57 billion after about one year in the market. The renminbi tranche is still being raised, with a target of RMB3 billion ($439 million).
Lightspeed China Partners has closed its first renminbi-denominated venture fund at RMB600 million ($87 million).
China Aerospace Science & Technology Corporation (CASC) has launched a RMB150 billion ($22 billion) fund with a group of state-owned enterprises (SOEs) to invest in new technologies.
Yi Capital, a Beijing-based VC firm founded by two former partners at CDH Investments, has closed its debut renminbi-denominated fund at RMB800 million ($116 million).
Source Code Capital, a Chinese VC firm founded by Yi Cao (pictured), a former partner at Sequoia Capital, has closed its third US dollar-denominated technology fund at $260 million.
Wei Zhou (pictured), formerly a managing partner at KPCB China, has launched a new VC firm – China Creation Ventures – and closed his debut renminbi-denominated fund at RMB1.5 billion ($220 million).
The Tianjin government is looking to raise RMB100 billion ($14.5 billion) for a renminbi-denominated fund intended to stimulate private investment in pillar industries such as high-end manufacturing, information technology and aerospace.
Banyan Capital has raised more than RMB5 billion ($725) million across two China-focused venture capital funds – one US dollar-denominated and the other in renminbi.
Morningside Venture Capital, a China-focused early-stage VC firm that used to manage only US dollar-denominated funds, has closed its first renminbi vehicle at RMB1 billion ($143 million).
Guangzhou Industrial Investment Fund Management, an investment arm of the Guangzhou government, has partnered with China Reform Holdings and Shanghai Pudong Development Bank to launch a state-owned enterprise (SOE) restructuring fund with a target size...
A resurgence in renminbi fundraising has prompted GPs best known for US dollar funds to enter the local currency market. Addressing conflicts of interest in an increasingly complex industry will prove difficult
An investment unit of Chinese conglomerate CITIC Group has launched a RMB6 billion ($873 million) buyout fund that focuses on China's education sector.
The launch of several huge government-backed funds has skewed renminbi-denominated fundraising in China. What does their arrival mean for valuations and for the nascent independent LP community?
China’s Ministry of Finance and the Cyberspace Administration of China (CAC) - the country's internet oversight agency - have launched an internet-related investment fund with a target of RMB100 billion ($15 billion).
CDH Investments has closed its China mid-market fund at the hard cap of $800 million, beating the target of $600 million. The vehicle will allow the GP to pursue opportunities that fall below the minimum check size for its flagship private equity fund.
China Merchants China Direct Investments (CMCDI), a Hong Kong-listed investment entity managed by China Merchants Group and First Eastern Investment Group, has committed RMB90 million ($13 million) to a fund that will target internet and artificial intelligence...
Redbud Capital, a VC fund-of-funds unit under Tsinghua Holdings, has launched a new vehicle worth RMB1 billion ($150 million) with several government-backed agencies to invest in China venture capital funds.
China Everbright (CEL), the Hong Kong-listed multi-platform asset manager backed by state-owned China Everbright Group, is set to receive a separate account mandate from the National Council for Social Security Fund (NSSF), China’s largest pension fund.
DCL Investments, a spin-out from China-focused distressed debt and special situations investor Shoreline Capital, has closed its debut fund with more than RMB3.7 billion ($500 million) in commitments.
Fundraising hits a record quarterly high, thanks entirely to Chinese government-backed vehicles; Australia, Southeast Asia compensate for investment slowdown in China; India shines on exits