Tiantu Capital has closed its debut angel investment fund at RMB500 million ($75 million), complementing the GP’s coverage for companies from early to late stages in China.
Chinese healthcare-focused GP HighLight Capital, which was set up by Steven Wang, formerly of CDH Investments, has reached the first close for its third renminbi vehicle at around 70% of the hard cap.
TPG Capital and CICC Capital, the private equity arm of China International Capital Corporation (CICC), have agreed to establish a joint platform that will make investments in US dollars and renminbi.
Shenzhen Capital Group has reached a first close of RMB1.8 billion ($263 million) on its debut M&A fund. The vehicle has an overall target of RMB3.6 billion.
FountainVest Partners, which has raised three US dollar-denominated China-focused funds, has closed its first renminbi vehicle at RMB1.7 billion ($246.5 million).
China has proposed easing restrictions on insurers investing in private equity, which may help alleviate a significant slowdown in renminbi fundraising.
The once commonplace incentives used by local governments in China to attract PE fund managers are now largely extinct. New GPs struggle even to register in a city, let alone get paid for doing so
Brand names dominate Asia fundraising to an unprecedented degree; China IPOs continue despite weakening markets; Taiwan, Australia and Singapore deliver an unlikely investment boost
Nearly one-third of domestic private equity firms inspected by China’s securities watchdog in the first half of this year were found to have irregularities, prompting the regulator to reaffirm its intent to further step up scrutiny of the industry.
A two-year renminbi fundraising boom in China has ended abruptly due to a combination of controversy, regulatory intervention, and dwindling investor sentiment. But the market may benefit in the long term
China-focused Long Hill Capital has reached a final close of $265 million on its second US dollar-denominated VC fund as well as a first close of about $30 million for its first renminbi vehicle.
Longzhu Capital, a venture capital firm established by Chinese online-to-offline (O2O) services platform Meituan-Dianping, has closed its debut fund at RMB2 billion ($300 million).
The Beijing government has launched a RMB30 billion ($4.6 billion) innovation-focused fund-of-funds that will not only make investments locally but also commit capital overseas with a view to bringing technologies to China.
Sinovation Ventures has formed a RMB2.5 billion ($395 million) venture capital fund that will focus on artificial intelligence (AI). It is a cooperative effort with the Guangzhou government to drive technology development.
Vision Plus Capital looks to tap the entrepreneurial talent developing in Alibaba Group's ecosystem for its second US dollar and renminbi-denominated funds
AlphaX Partners, a Chinese venture capital firm established by Chuan Thor (pictured), formerly of Highland Capital China, has closed its first US dollar and renminbi-denominated fund with around $270m in commitments.
Vision Plus Capital Partners, a Chinese venture capital firm set up by one of the co-founders of Alibaba Group, has raised $500 million for its second US dollar and renminbi-denominated funds.
GGV Capital has raised RMB1.5 billion ($236 million) for its debut renminbi-denominated fund. The successful close takes the Sino-US venture capital firm’s total assets under management past $4 billion.
Redpoint China Ventures has raised $110 million for its debut renminbi-denominated fund, which is expected to offer greater flexibility in backing start-ups in the early stages
Redpoint China Ventures has closed its debut renminbi-denominated VC fund at RMB700 million ($110 million).
Chinese online retailer JD.com has formed an M&A fund with Hong Kong-listed clothing producer and retailer Cosmo Lady. The target size is RMB1 billion ($159 million).
Baidu Ventures, an independent VC firm set up by Chinese internet player Baidu, has achieved a first close of more than RMB2 billion ($318 million) on its second renminbi-denominated fund that focuses on artificial intelligence (AI).
Legend Star, the early-stage investment arm of China’s Legend Holdings, has closed its third VC fund at RMB800 million ($127 million).
China’s 6 Dimensions Capital, which was formed through the merger of WuXi Healthcare Ventures and Frontline BioVentures, has raised approximately $844 million for its debut healthcare fund.