Renminbi fund
China targets $8.7b for guidance fund to drive SOE reform
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 closes debut China fund at $2.5b
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 closes second renminbi fund at $477m
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’s Harvest Capital hits $446m first close on consumer fund
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).
NewMargin Ventures launches $1.5b RMB fund
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.
China’s Tiantu Capital closes first angel fund at $75m
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.
HighLight reaches first close on third renminbi vehicle
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, CICC establish dual currency China investment platform
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 hits first close on debut M&A fund
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 closes debut renminbi fund at $246.5m
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 to relax constraints on insurance participation in PE
China has proposed easing restrictions on insurers investing in private equity, which may help alleviate a significant slowdown in renminbi fundraising.
China PE incentives: End of the party
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
3Q analysis: Favoring the few
Brand names dominate Asia fundraising to an unprecedented degree; China IPOs continue despite weakening markets; Taiwan, Australia and Singapore deliver an unlikely investment boost
Chinese probe uncovers irregularities in one-third of local GPs
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.
Renminbi fundraising: Winter has come
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
Long Hill closes second China VC fund at $265m
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.
Meituan-Dianping GP closes consumer fund at $300m
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).
China launches $4.6b technology-focused guidance fund
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.
China's Sinovation launches AI-focused fund
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.
Fund focus: Tapping the Alibaba talent seam
Vision Plus Capital looks to tap the entrepreneurial talent developing in Alibaba Group's ecosystem for its second US dollar and renminbi-denominated funds
China's AlphaX raises $270m venture capital fund
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 raises $500m for China VC funds
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 closes debut renminbi VC fund at $236m
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.
Fund focus: Redpoint restates its local credentials
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