Ping An, Adamas launch $500m China SME-focused fund

The fund is expected to benefit from Adamas' expertise in China's structured finance market and from Ping An's network and staff in local markets, according to a release. Investments will focus on companies in Greater China with strong downside protection.

"The Fund aims to bridge a major funding gap that exists for quality small to medium sized enterprises that are seeking to grow to the next level in Greater China. In China, 90% of SMEs don't have access to traditional bank financing and public equity markets, hindering the rapid growth of high quality companies," said Adamas co-founder and CEO Paul Heffner.

Adamas was founded in 2009 as Gen2Partners, then was rebranded in 2013 to reflect its shift in focus to its core businesses of private investments and customized funds. It typically makes pre-IPO investments and offers mezzanine debt and bridge loans.

The firm's Greater China Credit fund launched in 2012 with a target of $200 million. It received a commitment of $1 million from China Private Equity Investment Holdings in 2013.

Ping An Trust is a subsidiary of China's Ping An Insurance Group, which manages total assets valued at RM130 billion ($20.3 billion). The parent company is an active investor in Chinese start-ups through its venture capital arm, Ping An Ventures; this year it led a $200 million Series D round for social networking and shopping platform Mogujie and a $55 million Series E round for luxury goods e-commerce platform Secco Holding. It also committed $20 million in Series A funding to car-washing mobile service app Exc118.

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• Topics
• Greater China
• Venture
• Fundraising
• GPs
• China
• Adamas Asset Management
• Ping An
• Venture
• Fundraising
• GPs