China’s securities regulator has pledged to crack down on illegal domestic private equity fundraising, specifically products that managers claim are aimed at qualified investors but they in fact distribute to the retail market.
Chinese technology and healthcare investor Oceanpine Capital has closed its Hardcore Technology Investment Fund on RMB2 billion ($312 million). LPs include government guidance funds and fund-of-funds in Suzhou, where the new vehicle is based.
Shanghai-based Yingke Private Equity has raised RMB10 billion ($1.57 billion) for its latest renminbi-denominated fund as well as an undisclosed sum for a third US dollar vehicle.
Shanghai is giving foreign investors better access to unlisted assets and private funds - under an expanded Qualified Foreign Limited Partner (QFLP) regime - as part of efforts to establish itself as a global asset management hub.
Chinese VC firm Meridian Capital has closed its sixth renminbi-denominated fund at RMB2.12 billion ($330 million) after four months in the market.
DCL Investments, one of China’s first private equity firms to focus on distressed assets, is looking to raise RMB3 billion ($466 million) for its latest renminbi-denominated fund.
Qingsong Fund differs from most renminbi fund managers by virtue of its uncommon diversification and farsighted strategy. Data and deep tech will be key focus areas for the firm’s new $153 million fund
China's 5Y Capital has raised nearly $2 billion for its latest US dollar and renminbi-denominated funds, securing $1.7 billion for the US dollar pool and around RMB1.9 billion ($290 million) for the local currency vehicle.
Qingsong Fund, a Chinese venture capital firm formed by Xiaosong Liu, an angel investor and co-founder of Tencent Holdings, has closed its fourth renminbi-denominated fund with RMB1 billion ($153 million).
Fund management has become China Renaissance’s largest source of revenue, seven years after the firm – best known for providing private placement and M&A advisory services to Chinese internet companies – entered the private equity business.
Addor Capital – a Chinese VC firm backed by Jiangsu High-Tech Investment Group, also known as Govtor Capital – has raised RMB1.56 billion ($241 million) for its second renminbi-denominated healthcare fund.
See Fund, an investment firm established by the founder of Chinese artificial intelligence chip start-up DeePhi Technology, has raised RMB200 million ($31 million) for its debut fund.
Fresh Capital, a Shanghai-based venture capital firm, has reached a first close of RMB600 million ($93 million) on its second renminbi-denominated fund.
GGV Capital has closed its latest set of US dollar-denominated funds with $2.52 billion in aggregate commitments. It represents the largest fundraising since the firm’s inception in 2000.
Qiming Venture Partners has closed its sixth renminbi-denominate vehicle at RMB2.85 billion ($441 million), taking the firm's total assets under management to $5.9 billion.
Firstred Capital has already completed six deals from its debut fund, making commitments that are flexible in structure to Chinese companies that need its M&A expertise
Firstred Capital, a Chinese growth and buyout investor in healthcare, consumer products and services, and industrial technology, has closed its debut fund with RMB6.8 billion ($1 billion) in commitments.
With $455 million in commitments for its latest renminbi fund, DCL Investments hopes to make its on-the-ground capabilities count in resolving China’s non-performing loans problem
In addition to raising $213 million for its latest renminbi-denominated fund, Huaxing Healthcare Capital sourced $230 million from co-investors for a succession deal in China’s orthopedics space
CDH Investments has reached the first close of RMB1.5 billion ($228 million) on a data center industry fund. Part of the Chinese GP's mezzanine strategy, the vehicle has a full target of RMB2 billion.
Shanghai-based Yingke Private Equity has raised RMB10 billion ($1.5 billion) for a fund that will focus on core technology and biomedical science assets in China.
Legend Star, the early-stage investment arm of China’s Legend Holdings, has raised RMB800 million ($119 million) for its fourth renminbi-denominated fund.
Government guidance funds are the policy-driven big beasts in China’s renminbi-fundraising landscape. While GPs may have little choice but to engage, they can do so judiciously
IDG Capital has completed a renminbi fund restructuring in which assets have been transferred from one local currency vehicle to another backed by offshore investors. It is the first secondary deal of its kind to use the Qualified Foreign Limited Partner...