Have your say in the China Awards
As anyone who has been reading AVCJ’s coverage in recent months will know, China fundraising disappointed in 2012. Country-focused funds attracted just $23.4 billion, down 51.3% on the previous year. The damage was done in the second half, and mainly by renminbi-denominated vehicles. After attracting $15.7 billion in the first six months, local currency funds got just $4.2 billion in second six months.
So where does this leave us for the 2013 AVCJ China Awards? We have separate categories for US dollar and renminbi fundraising and, based on the headline statistics, pickings for the latter should be pretty slim, especially when we strike out the government-driven entities.
Last year, Co-Win Capital's RMB2.5 billion ($402 million) Nanhai Growth Fund V triumphed in a category that was, with all due respect to the nominees, lacking a truly big name. Fortunately, this year we already have two: China International Capital Corp. (CICC) raised RMB5 billion for the CICC Jia Tai Private Equity Fund; and CDH Investments reached a final close of RMB8 billion on its second local currency vehicle.
On the US dollar side, it was difficult to look past Hony Capital Fund V, which took barely four months to accumulate $2.4 billion in commitments. It's possible we will end up with a similar situation in 2013: At $1.35 billion, FountainVest Partners' second China fund is by a distance the largest US dollar vehicle out there.
Who deserves the plaudits? Nominations for the awards are now open, so you can have your say. The categories are as follows:
- Firm of the Year
- Private Equity Professional of the Year
- Venture Capital Professional of the Year
- Private Equity Deal of the Year
- Venture Capital Deal of the Year
- Exit of the Year
- Fundraising of the Year - US Dollar
- Fundraising of the Year - Renminbi
Submissions can be made via email (avcjawards@incisivemedia.com) or online and will be accepted until April 15. They should relate to investment, exit and fundraising activity between April 1, 2012 and March 31, 2013.
The AVCJ Editorial Board will evaluate the entries and submit a long list in each category to a select panel of industry judges. The judges will consider these recommendations, and if necessary, propose alternative candidates. The final shortlists - no more than five per category - will then be drawn up.
The shortlists will be posted online for the entire PE and VC community to vote on from May 2-16. As in previous years, voting is not limited to AVCJ subscribers but voters must register - providing name, firm and contact details - so as to avoid vote packing. No more than 10 votes will be accepted from employees of a single firm.
The AVCJ subscriber base has a 50% say in the final result, with the judges and the AVCJ Editorial Board each accounting for 25%.
The winners will be announced at the Awards cocktail, held in Beijing on May 30 as part of the 2013 AVCJ China Forum.
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