Jiuding Capital reaches $150m first close on US dollar fund
China’s Jiuding Capital has reached a $150 million first close on its second US dollar-denominated vehicle. Investors include sovereign wealth funds and insurance companies from North America and Asia.
Jiuding China Growth Fund II, which was launched in January, is targeting a final close of $200 million.
The fund invests in growth stages companies across retail, pharmaceutical, agriculture, mining and services sectors. The GP will focus on equity investment, M&A and state-owned enterprises (SOE) restructuring.
According to AVCJ Research, Jiuding reached a final close of $120 million on its first US dollar fund in 2010, counting Temasek Holdings and Allianz Capital Partners among its backers. The fund primarily invested in the pre-IPO companies as well as growth enterprises in China.
Zhongyi Zhao, founding partner at Jiuding, told an industry conference last year that launching US dollar funds can help the firm attract professional institutional investors as well as increase its global exposure.
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