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      The reports review the year's local private equity and venture capital activity and are filled with up-to-date data and intelligence on fundraising, investments, exits and M&A. The regional reports also feature information on key companies.

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Renminbi

renminbi-rmb
Schroders, Thailand's KBank launch renminbi PE fund

Schroders Singapore and KBank Private Banking, a unit of Thailand’s Kasikornbank, have jointly launched a Thailand-based renminbi-denominated China private equity fund of undisclosed size.

  • Greater China
  • 25 October 2023
electric-vehicle-charging-ev
Shangqi hits $575m second close on renminbi fund

Shangqi Capital, a private equity affiliate of Chinese automotive manufacturer SAIC Motor, has completed a second close of CNY 4.2bn (USD 575m) on its latest renminbi-denominated fund, bettering the overall target of CNY 4bn.

  • Greater China
  • 13 October 2023
renminbi-rmb-2
Legend Star closes fifth renminbi fund on $123m

Legend Star, the China-based venture capital arm of Legend Holdings, has closed its fifth renminbi-denominated fund with more than CNY 900m (USD 124m) in commitments.

  • Greater China
  • 12 October 2023
china-map-globe2
China's Principle Capital hits second close on dual-currency fund

Principle Capital, a Chinese private equity firm that has a strategic relationship with US-based Clayton, Dubilier & Rice (CD&R), has reached a second close of approximately USD 200m on its fifth fund.

  • Greater China
  • 10 July 2023
herry-han-soul
Q&A: Soul Capital’s Herry Han

Lightspeed China spinout Soul Capital is pursuing an early-stage dual-currency strategy in China. Herry Han, the firm’s founding partner and CEO, explains how and why he’s staying relevant

  • Greater China
  • 28 June 2023
renminbi-rmb-2
Consumer specialist Tiantu closes $218m renminbi fund

Tiantu Capital, a China-based consumer-focused venture capital firm, has raised CNY1.5bn (USD 218m) for its latest renminbi-denominated fund.

  • Greater China
  • 19 April 2023
renminbi-rmb-2
Coller launches $218m renminbi secondaries fund

Coller Capital has launched a renminbi secondaries fund with a target of CNY 1.5bn (USD 218m), confirming it has secured a first close of undisclosed size.

  • Greater China
  • 11 April 2023
renminbi-rmb
Guangzhou government commits $29bn to fund-of-funds

The Guangzhou provincial government has established two fund-of-funds (FoFs) with a combined scale of CNY 200bn (USD 29bn).

  • Greater China
  • 22 February 2023
renminbi-rmb-2
Primavera targets onshore China deals

Primavera Capital Group has established a fund under China's Qualified Foreign Limited Partnership (QFLP) regime, underlining interest in onshore investments among managers with US dollar-denominated pools of capital.

  • Greater China
  • 16 February 2023
renminbi-rmb-2
China Renaissance raises $446m for renminbi fund

Huaxing Growth Capital, the private equity division of China Renaissance, has achieved a CNY 3bn (USD 446m) first close on its fourth flagship renminbi-denominated fund.

  • Greater China
  • 11 May 2022
analysis-hands-graph-chart
1Q analysis: Monetising managers

Baring Asia and PAG underline the value of their management entities; exits slump amid uncertainty; BGH Capital, renminbi GPs shore up fundraising; investment fails to extend the late 2021 flourish

  • Greater China
  • 13 April 2022
cao-yi-2021-pic-5
China's Source Code raises $1.1b renminbi fund

Chinese venture capital firm Source Code Capital has raised RMB7 billion ($1.1 billion) for its fifth renminbi-denominated fund after approximately three months in the market.

  • Greater China
  • 11 October 2021
renminbi-businessman
China distressed asset manager DCL raises $455m

DCL Investments, one of China’s first private equity firms to focus on distressed assets, has raised RMB3 billion ($455 million) for its latest renminbi-denominated vehicle.

  • Greater China
  • 11 November 2020
China secondaries: Curious conversions

An exit lag and difficulties raising money for renminbi funds in China has created a novel opening for secondaries investors comfortable moving assets from one currency to another

  • Greater China
  • 11 September 2019
Sinovation closes $362m RMB fund, establishes GBA base

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...

  • Greater China
  • 06 June 2019
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.

  • Greater China
  • 28 May 2019
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).

  • Greater China
  • 09 April 2019
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.

  • Greater China
  • 25 March 2019
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.

  • Greater China
  • 07 January 2019
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).

  • Greater China
  • 17 December 2018
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.

  • Greater China
  • 30 October 2018
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.

  • Greater China
  • 15 October 2018
empty-pockets
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

  • Greater China
  • 19 September 2018
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

  • Greater China
  • 22 March 2018
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