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CDH Investments to raise $350m VC fund - report

  • Alvina Yuen
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CDH Investments is reportedly in the process of raising a new venture capital fund worth $300-350 million. The fundraising is expected to reach a final close by the end of this year.

According to local media, the new fund will focus on TMT, healthcare, consumer services and clean energy.

CDH Venture was created in 2006 under the CDH umbrella with an independent team dedicated to making venture capital investments. It subsequently closed its maiden venture capital vehicle at $210 million in the same year.

In July 2007, CDH Venture held a final close for its second VC fund at $505 million. California Public Employees' Retirement System (CalPERS) and University of Minnesota Foundation were reportedly among the LPs.

The latest fundraising comes after CITIC Capital, partly-owned by Chinese Investment Corp. (CIC) and CITIC Group, reached a first close of $60 million for its new venture capital fund in February. The vehicle represented the private equity firm's first foray into the venture space.

CITIC Capital Venture Partners, has an overall target of $150 million, counts Vertex Asia Growth, a wholly-owned subsidiary of Temasek Holdings and Enspire Capital among its anchor investors. Enspire is a Singapore-based company focused on the technology, media and telecommunications sector.

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