China Science & Merchants launches first USD fund
China Science & Merchants (CSM) has launched its first US dollar-denominated fund and is seeking to raise $1 billion. EME Capital has been appointed global coordinator for the fundraising.
CSM, founded in 2000, has more than $2 billion under management and has invested in more 100 China-based startups.
The GPs in its first international fund include Robert Hanson, son the late British industrialist Lord Hason who made his name doing leveraged buyouts in the 1980s. Hanson Family Holdings has been working with CSM since 2003, assisting in deal-sourcing and evaluation as well as finding overseas partners for portfolio companies.
Professor Shan XianShuang, Chairman and Founder of CSM said, "This fund will allow, for the first time, international investors to invest alongside CSM's renminbi-denominated funds on a pari passu basis," Professor Xianshuang Shan, chairman and founder of CSM, said in a statement.
"CSM's respected management team and Chinese identity will mean that high quality Chinese private equity investment opportunities will now be available to foreign investors."
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