Legend Capital has absorbed lessons from its corporate sponsor to build a diversified investment business across the US dollar and renminbi spaces. It is now trying to take LP relations to a new level
China Renaissance has closed the third renminbi-denominated fund raised under its flagship Huaxing Growth Capital arm with more than RMB6.5 billion ($943 million) in commitments.
SAIC Capital, an investment manager controlled by Chinese automaker SAIC Motor, has raised a RMB1 billion ($145 million) fund that will target deals throughout the automotive industry supply chain.
Shenzhen Capital Group is looking to raise upwards of RMB2 billion ($290 million) for its first healthcare fund as the Chinese venture capital firm continues efforts to diversify its product offering.
Chinese early-stage investor Plum Ventures has closed its fifth angel fund with RMB532.5 million ($77.4 million) in commitments, taking its total assets under management to RMB3 billion.
JD Logistics, the delivery unit of Chinese e-commerce giant JD.com, has reached a first close on a renminbi-denominated fund that invests in smart logistics and related technologies. The full target for the vehicle is RMB1.5 billion ($218 million).
Sinovation Ventures has raised RMB2.5 billion ($362 million) for a fund that will focus on artificial intelligence (AI), big data and related areas. The final close was announced at the unveiling of the firm’s Greater Bay Area (GBA) headquarters in...
China’s state-owned Yangtze River Industry Fund and China Information Technologies Group have jointly launched a RMB5 billion ($723 million) fund with a focus on 5G technology.
China Reform Holdings has supported the launch of a national guidance fund with a target of RMB60 billion ($8.7 billion) that will focus on state-owned enterprise (SOE) restructuring.
DCP Capital – a PE firm established by David Liu (pictured) and Julian Wolhardt, who previously held leadership positions with KKR in China – has closed its debut fund with around $2.5 billion in commitments. It comprises a US dollar-denominated tranche...
Shiyu Capital, which focuses on growth-stage investments in Chinese healthcare companies, has closed its second renminbi-denominated fund at RMB3.2 billion ($477 million), beating the RMB3 billion target.
China-based Harvest Capital, formerly known as Sino-Can Harvest Capital (SCHC), has reached a first close on its new consumer-focused fund at RMB3 billion ($446 million).
Shanghai-based NewMargin Ventures is looking to raise up to RMB10 billion ($1.5 billion) for a renminbi-denominated fund that will focus on the defense sector.
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.