Idinvest Partners launches $1b Sino-European fund
Idinvest Partners, a European PE firm that specializes in investments in small- and medium-sized enterprises (SMEs), has launched a EUR1 billion ($1.1 billion) cross-border investment fund to support European SMEs as they expand into Chinese markets.
The vehicle, called Chance, is expected to reach a first close of EUR300 million by the end of this year, with commitments from China Merchant Bank, China International Intellectech Corporation (CIIC) and Shanghai Shentong Metro.
The GP will take minority stakes in French and other European SMEs operating in health, environmental technologies, financial technologies, digital technologies and agri-food industries. Portfolio companies will receive operational support to expand in the Chinese market from Idinvest and its Chinese partners.
Founded in 1997 as AGF Private Equity, Idvest was a subsidiary of Allianz. It was bought by IDI Group in 2010. The firm now has over EUR5.5 billion in assets under management.
Another Sino-French PE firm, Cathay Capital Private Equity, recently reached a final close on the EUR500 million Cathay Midcap Growth Fund III to promote the international expansion of companies in the mid-cap segment. A few weeks ago, the same GP launched a Sino-French Innovation Fund that is looking to invest in start-ups in France, China and the US.
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