Renminbi fund
More than 50 Chinese PE firms suspected of illegal fundraising
More than 50 Chinese private equity firms are suspected of illegal fundraising activity, according to the head of a taskforce charged with tracking down offenders. A total of RMB16 billion ($2.6 billion) and more than 100,000 people are thought to be...
CBC, Sichuan Changhong to launch $41m internet fund
China Broadband Capital Partners (CBC) and Sichuan Changhong Electric, a Chinese electric goods maker, plan to launch a RMB250 million ($41 million) venture fund to invest in the cloud computing, big data, smart phone and internet industries.
Haitong Capital, Orient International launch RMB buyout fund
Haitong Capital, a PE arm of Haitong Securities, and Shanghai-based logistics company Orient International Enterprise have launched a renminbi-denominated buyout fund with a target of RMB3 billion ($493 million).
Jiuding Capital reaches first close on latest RMB fund
China’s Jiuding Capital has reached a first close of RMB1 billion ($164 million) on its latest renminbi-denominated vehicle, which has a full target of up to RMB3 billion.
RMB fund-of-funds: Patience is a virtue
As some global fund-of-funds struggle to raise funds, their renminbi counterparts are struggling to find a purpose – government-backed vehicles excepted. A more mature LP base should bring more demand
China Fortune Link to set up RMB VC fund in Qinghai province
China Fortune Link Fund Management has rolled out a RMB100 million ($16.3 million) venture capital fund to invest in Qinghai, a province located in China's far northwest.
SAIF Partners, Telescope hold first close on China retail growth fund
SAIF Partners and China Telescope Investments have reached a first close of RMB300 million ($49 million) on their China retail growth fund. The vehicle - Telescope Consumer Growth Fund I – will support the development of retail and consumer products,...
China’s Jiuding to launch mezzanine fund
China’s Kunwu Jiuding Capital plans to raise a renminbi-denominated mezzanine fund to provide local companies with debt solutions where pure equity is not appropriate.
NDRC stops registering domestic private equity funds
The National Development and Regulatory Commission (NDRC) is said to have stopped registering for domestic private equity funds, having lost out to the China Securities Regulatory Commission (CSRC) in the battle to become the asset class' preeminent regulator.
CITIC Capital RMB fund backs China’s SF Express
A consortium comprising CITIC Capital, Suzhou-based Oriza Holdings and China Merchants Group has bought a 25% stake in China’s SF Express, a Shenzhen-headquartered express delivery services provider. Financial details were not disclosed.
Tiantu Capital makes the first investment via sixth RMB fund
China’s Tiantu Capital has committed RMB80 million (US$13 million) to Ganqishi, a Hangzhou-based Chinese cuisine food chain, for an undisclosed stake. It is the first investment from the VC firm's sixth renminbi-denominated fund.
China Tiantu Capital closes sixth RMB fund at $160m
Tiantu Capital has closed its sixth renminbi-denominated fund on RMB1 billion ($160 million). The vehicle will mainly invest in China's consumer sector.
China’s Sailing Capital supports $400m round for Mobileye
China’s Sailing Capital participated in a $400 million round of funding round for Mobileye, a Netherlands-based operator of driver assistance systems, valuing the company at about $1.5 billion. It is one of five investors that will between them own...
Credit China, jeweler Chow Tai Fook form RQFLP fund
Hong Kong jeweler Chow Tai Fook has teamed up with financial services provider Credit China and private equity firm VMS Investment to form a closed-end Renminbi Qualified Foreign Limited Partnership (RQFLP) fund. The vehicle, named Chongqing Run Ke Equity...
CSRC to regulate Chinese PE, NDRC to promote it – State Council
China’s State Council appears to have resolved the regulatory spat over domestic private equity, designating the China Securities Regulatory Commission (CSRC) as the single agency responsible for the asset class. The National Development and Reform...
AVCJ China Awards: RMB fundraise of the Year – CDH Investments
CDH Investments did not get into the renminbi fund space as part of the mad rush for heady exit multiples on Chinext. The private equity firm’s involvement dates back to several years earlier and it owes much to China’s regulators restricting offshore...
China’s Jiuding committed to pre-IPO strategy
China pre-IPO specialist Kunwu Jiuding Capital will not change its strategy despite a slump in listings - and exit multiples - before domestic regulators slammed the door on new share offerings completely towards the end of last year.
China Haitong Securities PE arm eyes buyout funds – report
Haitong Capital Investment, the PE arm of China Haitong Securities, is expected to launch its first renminbi- and US dollar- denominated buyout funds, targeting at least $526 million.
NDRC private equity executive moves to CSRC
Liu Jianjun, a senor official at the National Development and Reform Commission (NDRC) who oversaw the private equity division, has been handed a leading role within the China Securities Regulatory Commission's (CSRC) fund department. The move comes amid...
Four VCs invest in China Bama Tea Series A round
IDG Capital Partners, Tiantu Capital, Shenzhen-based Cowin Capital and Tianjixing Capital have jointly invested in a Series A round of funding for Anxi Bama Tea worth RMB150 million ($24 million).
Hopu’s Fang Fenglei to raise comeback fund
Fang Fenglei, a former Goldman Sachs banker and co-founder of China Hopu Investment Management, is looking to raise at least $2 billion for his new fund - three years after winding down the previous vehicle.
StarRock to be first China PE firm to enter mutual fund space
China’s sunshine fund StarRock Investment has recently established a mutual fund department, making it the first domestic private equity manager to officially operate in the public fund space.
China’s CIC tops overseas investment deals – study
China’s sovereign wealth fund, the China Investment Corporation (CIC), was the most active investor for overseas direct investment (ODI) in 2012, according to an index published A Capital, a private equity firm focused on cross-border transactions involving...
Chongqing launches RQFLP program for offshore RMB funds
The Chongqing government has rolled out a trial Renminbi Qualified Foreign Limited Partner (RQFLP) program, easing the path for offshore renminbi-denominated funds to invest in private equity.