HAO Capital to roll out its third USD fund

Founded in 2005, HAO currently manages total assets of $500 million across two dollar funds. Ticket sizes range from RMB80 million to RMB300 million ($12.7 million) with target ownership of 10-25%. Its investors include institutions such as J.P. Morgan Chase, Adveq and Goldman Sachs, as well as high net worth individuals.

HAO I, with a size of $100 million, is fully invested and in partial liquidation, while two thirds of HAO II, worth $400 million, has also been deployed and seen some exits, a person familiar with the company told AVCJ.

In total, HAO has invested in nearly 20 companies across consumer, industrial and healthcare sectors. Five have since listed overseas. The company is eyeing for more future exits in domestic stock market amid difficult global markets.

Founder and partner Elaine Wong, who joined HAO from The Carlyle Group, told Reuters that she expected two more companies, including a pharmaceutical firm and a furniture maker, to launch domestic IPOs. However, with the pre-IPO boom that stimulated so much private equity activity in China now slowing down, Wong thinks that investors should consider other exits. She expects to see more trade sales in the coming year.

"The IPO market this year is likely to remain sluggish and the domestic private equity market will witness a shake-up," she added.

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• Topics
• Greater China
• Fundraising
• Fundraising
• Consumer
• Growth capital
• Hao Capital
• healthcare