Chinese venture capital firm Gaorong Capital has raised $500 million for its fourth US dollar-denominated fund. The majority of commitments came from existing LPs, with two endowments coming in as new investors.
The fund is similar in structure of the firm’s third US dollar vehicle, which closed in April last year. It comprises a core vehicle of $450 million for institutional investors and a $50 million sidecar made...
Ascendent Capital Partners has joined Xuan Ruiguo, the chairman and founder of Hong Kong-listed industrial control systems maker China Automation Group, in a take-private offer that values the company at HK$1.5 billion ($197 million).
Australian investment firm Leap Capital has raised A$50 million ($34 million) for a venture debt fund that will target established, revenue-generating companies locally.
Hansoh Pharmaceutical Group, a Chinese drug developer that counts Hillhouse Capital and Boyu Capital among its investors, has raised HK$7.86 billion ($1 billion) through a Hong Kong IPO.
Fidelity International has announced plans to spin-out its proprietary investment arm Eight Roads within the year pending regulatory and shareholder approvals.