China Everbright boosts exposure to Haiyin’s cross-border fund

It comes after an $8 million LP commitment to the vehicle - Haiyin Equity Investment Fund - last June. The overall fund size has not been disclosed but China Everbright is now the largest single investor.

Headquartered in Beijing, Haiyin Capital invests in both China and US-based early-stage technology companies, in the areas of electronics, wearable equipment, robotics, aerospace, financial technology, new energy and healthcare.

The GP is an investor in more than 10 US-based start-ups, including aerocar manufacturer Terrafugia, robot maker Hanson Robotics, wireless battery charging start-up Witricity, and crowdfunding platform AngelList. It wants to bring their business model and technologies into China and form partnerships with local enterprises.

"Through Haiyin fund, CEL [China Everbright] will invest in high-tech enterprises in the US and share in potential returns from the development and growing maturity of early-stage high technologies," the Chinese asset manager said in a statement. "CEL will also introduce its investee projects into mainland China in cooperation with Haiyin Capital, broadening CEL's pipeline of high-quality projects in the Chinese market and driving synergy."

Listed in Hong Kong, China Everbright has developed a multi-asset management platform across private equity, venture capital, mezzanine funds and hedge funds. As of the end of last year, it managed a total of HK$49 billion ($6.3 billion) in assets across 31 vehicles.

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