China's Oriza Rivertown raises $236m

Rivertown’s second flagship innovation growth fund has achieved a second close of CNY 1bn. A final close of CNY 1.6bn is expected by the middle of this year. New LPs include Everbright Trust and Xiamen Venture Capital, while existing investors Oriza Holdings and CICC Capital re-upped. The fund has made 10 investments to date, according to a statement.

The other fund is Nantong Oriza Rivertown Growth Fund I, Rivertown’s first regional fund. It reached a first close last October on CNY 600m. Investors include Nantong Science & Technology Venture Capital and Oriza Holdings.

The Nantong fund, which has a target of CNY 1bn, will invest across the Yangtze River Delta region. Preferred sectors include high-end manufacturing, new energy, new materials, and semiconductors. These are described as very much in line with government policies promoting hard technology.

Oriza Rivertown has two key investment themes – hard technology and digital economy. It has made around 40 investments since its inception in 2018 and seen five companies go public.

Artificial intelligence specialist SenseTime and JD Logistics both listed in Hong Kong, while Ronbay New Energy and semiconductor player Anlu Technology completed IPOs on the Star Market and Shanghai Stock Exchange, respectively. 

Zhijie Zeng, a managing partner at Rivertown, was previously a senior management director of CITIC Capital. Before that he worked at Walden International.

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• Topics
• Greater China
• GPs
• Fundraising
• Technology
• Renminbi fund
• China
• semiconductor
• Oriza