Renminbi
Schroders, Thailand's KBank launch renminbi PE fund
Schroders Singapore and KBank Private Banking, a unit of Thailand’s Kasikornbank, have jointly launched a Thailand-based renminbi-denominated China private equity fund of undisclosed size.
Shangqi hits $575m second close on renminbi fund
Shangqi Capital, a private equity affiliate of Chinese automotive manufacturer SAIC Motor, has completed a second close of CNY 4.2bn (USD 575m) on its latest renminbi-denominated fund, bettering the overall target of CNY 4bn.
Legend Star closes fifth renminbi fund on $123m
Legend Star, the China-based venture capital arm of Legend Holdings, has closed its fifth renminbi-denominated fund with more than CNY 900m (USD 124m) in commitments.
China's Principle Capital hits second close on dual-currency fund
Principle Capital, a Chinese private equity firm that has a strategic relationship with US-based Clayton, Dubilier & Rice (CD&R), has reached a second close of approximately USD 200m on its fifth fund.
Q&A: Soul Capital’s Herry Han
Lightspeed China spinout Soul Capital is pursuing an early-stage dual-currency strategy in China. Herry Han, the firm’s founding partner and CEO, explains how and why he’s staying relevant
Consumer specialist Tiantu closes $218m renminbi fund
Tiantu Capital, a China-based consumer-focused venture capital firm, has raised CNY1.5bn (USD 218m) for its latest renminbi-denominated fund.
Coller launches $218m renminbi secondaries fund
Coller Capital has launched a renminbi secondaries fund with a target of CNY 1.5bn (USD 218m), confirming it has secured a first close of undisclosed size.
Guangzhou government commits $29bn to fund-of-funds
The Guangzhou provincial government has established two fund-of-funds (FoFs) with a combined scale of CNY 200bn (USD 29bn).
Primavera targets onshore China deals
Primavera Capital Group has established a fund under China's Qualified Foreign Limited Partnership (QFLP) regime, underlining interest in onshore investments among managers with US dollar-denominated pools of capital.
China Renaissance raises $446m for renminbi fund
Huaxing Growth Capital, the private equity division of China Renaissance, has achieved a CNY 3bn (USD 446m) first close on its fourth flagship renminbi-denominated fund.
1Q analysis: Monetising managers
Baring Asia and PAG underline the value of their management entities; exits slump amid uncertainty; BGH Capital, renminbi GPs shore up fundraising; investment fails to extend the late 2021 flourish
China's Source Code raises $1.1b renminbi fund
Chinese venture capital firm Source Code Capital has raised RMB7 billion ($1.1 billion) for its fifth renminbi-denominated fund after approximately three months in the market.
China distressed asset manager DCL raises $455m
DCL Investments, one of China’s first private equity firms to focus on distressed assets, has raised RMB3 billion ($455 million) for its latest renminbi-denominated vehicle.
China secondaries: Curious conversions
An exit lag and difficulties raising money for renminbi funds in China has created a novel opening for secondaries investors comfortable moving assets from one currency to another
Sinovation closes $362m RMB fund, establishes GBA base
Sinovation Ventures has raised RMB2.5 billion ($362 million) for a fund that will focus on artificial intelligence (AI), big data and related areas. The final close was announced at the unveiling of the firm’s Greater Bay Area (GBA) headquarters in...
China targets $8.7b for guidance fund to drive SOE reform
China Reform Holdings has supported the launch of a national guidance fund with a target of RMB60 billion ($8.7 billion) that will focus on state-owned enterprise (SOE) restructuring.
China’s Harvest Capital hits $446m first close on consumer fund
China-based Harvest Capital, formerly known as Sino-Can Harvest Capital (SCHC), has reached a first close on its new consumer-focused fund at RMB3 billion ($446 million).
NewMargin Ventures launches $1.5b RMB fund
Shanghai-based NewMargin Ventures is looking to raise up to RMB10 billion ($1.5 billion) for a renminbi-denominated fund that will focus on the defense sector.
Shenzhen Capital hits first close on debut M&A fund
Shenzhen Capital Group has reached a first close of RMB1.8 billion ($263 million) on its debut M&A fund. The vehicle has an overall target of RMB3.6 billion.
FountainVest closes debut renminbi fund at $246.5m
FountainVest Partners, which has raised three US dollar-denominated China-focused funds, has closed its first renminbi vehicle at RMB1.7 billion ($246.5 million).
China to relax constraints on insurance participation in PE
China has proposed easing restrictions on insurers investing in private equity, which may help alleviate a significant slowdown in renminbi fundraising.
Chinese probe uncovers irregularities in one-third of local GPs
Nearly one-third of domestic private equity firms inspected by China’s securities watchdog in the first half of this year were found to have irregularities, prompting the regulator to reaffirm its intent to further step up scrutiny of the industry.
Renminbi fundraising: Winter has come
A two-year renminbi fundraising boom in China has ended abruptly due to a combination of controversy, regulatory intervention, and dwindling investor sentiment. But the market may benefit in the long term
Fund focus: Redpoint restates its local credentials
Redpoint China Ventures has raised $110 million for its debut renminbi-denominated fund, which is expected to offer greater flexibility in backing start-ups in the early stages