CMIA's $200m fund to focus on China agribusiness, healthcare
CMIA Capital Partners has launched its fourth growth capital fund, worth $200 million, which will primarily seek out opportunities in China, notably in the agricultural sector.
The private equity firm hopes to leverage the policies outlined in China's 12th Five-Year Plan, published earlier this year. Beijing's stated aim to pursue higher value growth and rebalance its economy - promoting domestic consumption over investment and exports, closing the rural-urban income gap, boosting energy efficiency and strengthening insurance and health cover - are expected to have a knock-on effect in several sectors. CMIA is targeting healthcare, infrastructure and consumer plays as well as agriculture.
The firm has made successful investments in China's agriculture and healthcare sectors through its previous funds, backing Singapore-listed vegetable processor China Minzhong Food Corporation and drug maker C&O Pharmaceutical. One of the new fund's seed investments is Emerald Asia, a Chinese mushroom and fungi producer and processor.
"Given the tremendous potential yet under-served nature of the agricultural sector, this is an area we are keen to explore through direct investments or by establishing partnerships with well-managed companies on attractive terms," said Lee Chong Min, co-founder and managing partner of CMIA.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.