China Soft Capital, Yangquan Coal form $480m industry fund
China Soft Capital (CSC) and Yangquan Coal Industry Group have launched an industry buyout fund with a target of RMB3 billion ($480 million).
The fund, domiciled in Shenzhen's Qianhai district, is expecting to hold a first close of RMB1.2 billion, according to a statement.
The sector-focused fund will mainly invest in coal and mining assets, especially in cleantech, advanced equipment and technology that improves energy efficiency.
Formerly Yangquan Mining Bureau, Yangquan Coal Industry has four subsidiaries listed in China. Its core businesses include producing and processing anthracite coal, as well as electricity generation.
Headquartered in Beijing, CSC focuses on strategic industry investments that are aligned with China's 12th Five-Year Plan, including IT, advanced healthcare equipment and cleantech. It has RMB3 billion ($480 million) in assets in management, with 30 portfolio companies exited via IPO.
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