The Asset Management Association of China (AMAC), a self-regulatory organization for the PE industry set up by the securities watchdog, has tightened rules on domestic fund managers’ registration, with a view to cracking down on financial scams.
The Beijing government has suspended domestic private equity investment registrations in relation to suspected illegal fundraising.
Qufenqi, a Chinese electronic retailer that allows buyers to pay in installments, has completed a new round of renminbi-denominated funding, having removed its variable interest entity (VIE) structure in preparation for an onshore listing.
China’s securities regulator has suspended listings and fundraising by domestic private equity firms on the National Equities Exchange and Quotation (NEEQ) system, also known as the New Third Board.
China Everbright has established a fund-of-funds with initial capital of RMB5 billion ($769 million) and a full target of RMB10 billion.
Redbud Capital, a VC fund-of-funds investment unit under Tsinghua Holdings, has reached a first close of RMB1 billion ($154 million) on its latest China-focused fund.
What do the next 12 months have in store? AVCJ has some ideas, but first here is a review of the predictions made for 2015…
Shenzhen Cowin Capital is poised to exit jewelry retailer Myray to Gansu Gangtai Holdings following the Shanghai-listed company's agreement to buy a further 36.96% of Myray for RMB170 million ($26 million).
ChinaEquity Group, a Beijing-based private equity firm, has won regulatory approval to list its renminbi investment business on China’s National Equities Exchange and Quotations (NEEQ), also known as the New Third Board.
Fosun Group and the Zhejiang provincial government will launch a RMB10 billion ($1.6 billion) renminbi-denominated fund-of-funds (FoF), with a view to restructuring and transforming different industries.
Chinese fruit store chain Pogola has completed a RMB400 million ($63 million) Series A round of funding, with consumer-focused GP Tiantu Capital contributing RMB350 million.
Hony Capital is looking to raise $2 billion for its latest Greater China-focused fund. A first close of $1 billion is expected in mid-October.
Gobi Partners has formed a RMB600 million ($94.1 million) fund that will focus on seed, pre-Series A and Series A investments in early-stage Chinese companies.
Hong Kong-listed Shanghai La Chapelle Fashion, a ladies' apparel maker backed by a string of PE investors, has partnered with Legend Capital to set up a PE fund worth RMB153 million ($24 million).
Chinese venture capital firm Banyan Capital has raised RMB560 million ($89 million) for its second renminbi-denominated fund.
CDH Investments is looking to raise $600 million for a China mid-market fund, with half of the corpus in US dollars and the other half in renminbi.
CASH Capital, the venture capital arm of the state-owned Chinese Academy of Sciences Holdings (CASH Holdings), is seeking to raise RMB1.2 billion ($193 million) for its second renminbi-denominated venture fund.
The Carlyle Group has invested RMB530 million ($85 million) in Beijing Ubox Technology & Trade, a vending machine operator in China.
Roger Hu, a director at Matrix Partners China, has teamed up with Yi Zheng, formerly vice president at Chinese dating app Momo, to launch a renminbi-denominated early-stage fund.
Plenty of Chinese high net worth individuals want to sell LP interests in renminbi funds. Local and foreign secondaries managers would like to take advantage, but they are held back by an immature market
Meinian Onehealth Healthcare Group, the largest private provider of preventive healthcare check-up services in China and a portfolio company of The Carlyle Group among others, plans to list in Shenzhen through a reverse merger with Jiangsu Sanyou Group.
Chinese consumer-focused GP Tiantu Capital has invested RMB200 million ($32 million) in a Series A round of funding for Kaizhuo, a mobile app can be used to make restaurant bookings and payments.
China-focused private equity firm JD Capital has partnered with Beijing Water Business Doctor to launch a RMB2 billion ($320 million) environment fund.
Leadyond Capital has partially exited its stake in NSFocus Information Technology, a Chinese network security services specialist, via a public market trade for RMB140.5 million ($22 million).