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PE Weekly | News and Events in Chinese PE Market (2020.10.11-2020.10.18)

FOF Weekly Updated October 18, 2020

This week (2020.10.11-2020.10.18), PE Weekly covers Policy, Fundraising, IPO and Industry news on PE market.  

Policy

CBIRC Leaves Chinese Insurance Institutions Responsible for Their Investment Management Capacity Building

11 October 2020----China Banking and Insurance Regulatory Commission (CBIRC), China’s top insurance regulator issued the “Notice on Optimizing the Supervision of Investment Management Capability of Insurance Institutions”, shifting from the record-filing administration to a new regulatory model combining self-assessment and information disclosure by insurance institutions with in-process and ex-post regulation by authorities. Indicative of CBIRC’s trust and confidence in insurance institutions, the new arrangement will relief Chinese insurance institutions in administrative procedures while forcing them to enhance self-regulation capacities. Read more...

 

China Urges High-Quality Development of Listed Companies

10 October 2020----The State Council issued a circular outlining plans to improve the quality of listed companies, in an effort to achieve healthy development of the capital market and perfect the socialist market economic system. Among others, phased implementation of registration-based IPO system and equity investment funds development are particularly emphasized. Read more... 

Fundraising 

Linear Capital Closes $200 M USD Fund

13 October 2020----Linear Capital officially closes its USD Fund IV at near $200 million, a 20% over-subscription. The Shanghai-based early-stage venture capital firm now manages 4 USD funds and 2 RMB funds with the total assets mounting to CNY 3 billion ($447.9 million). 

Focusing on frontier techs that power productivity and revolutionize lifestyle, the fund attracts new investors including top Asian asset management companies (AMC), professional investment institutions, Asian sovereign wealth funds, world-class university endowments, top Asian funds of funds (FOFs) as well as leading listed companies and founders from well-known Internet enterprises in China and beyond. Read more...

 

China Creation Ventures Closes Raises $300 M for Its Second Dollar-Denominated Fund

12 October 2020----China Creation Ventures (CCV), an early-stage venture capital firm, has made the final close of its second dollar-denominated fund at $300 million. As the third fund launched by CCV since it was established in 2017, the latest USD fund received capital commitments from a slew of new limited partners (LPs) including endowment funds, pension funds, and FOFs, besides existing investors. The LPs are based in North America, Europe and Asia.

With the fresh fund, CCV will continue to look at early-stage investments in industrial internet, new generation technology, artificial intelligence (AI), digital healthcare and new consumption. It manages about CNY 5 billion ($745 million) in assets, reaching a new milestone. Read more...

u=1316625674,1377105932&fm=26&gp=0.jpg

IPO

Tencent-Backed Miniso Raises $608 M in U.S. IPO 

15 October 2020----Miniso Group Holding Ltd., the Chinese budget household and consumer goods retailer backed by Tencent and Hillhouse Capital, raised $608 million in a U.S. initial public offering priced above a marketed range.

Founded by Chinese entrepreneur Ye Guofu and Japanese designer Miyake Junya, Miniso opened its first store in China in 2013. It markets itself as design-forward but extremely affordable - a bricks-and-mortar chain where customers can find everything from makeup to keyboards at dollar-store prices. Read more...

Industry

Shenzhen Puts Angel investments Under its Umbrella

13 October 2020----Shenzhen Angel FOF (Shenzhen Tianshi Fund of Funds), the government-guided fund which has increased CNY 5 billion ($746.5 million) to CNY 10 billion ($1.5 billion) in 2020, has recently promised to cover up to 40% losses of a single angel investment to motivate private capital in leaning towards early stage startups. That is offered besides renouncing all angel investments profits by the government-guided fund, providing a risk compensation mechanism by the junior investor. Read more...


Recommended reading
PE Weekly | News and Events in Chinese PE Market (2021.5.31-2021.6.6)
A Deep Dive into Hainan’s QDLP Policy
PE Weekly | News and Events in Chinese PE Market (2021.5.24-2021.5.30)
Xuzhou Government-Guided Fund: The Outlier That Broke Out of Investment Limbo
REGISTER NOW !
CHINA-BASED
GLOBAL PLATFORM
FOR GPs & LPs
E-mail adress
Password
l read and agree to
Terms&Conditions
Create a new account Sign up!
Forget Password
CHINA-BASED
GLOBAL PLATFORM
FOR GPs & LPs
Name
Surname
E-mail address
Password
Confirm password
l read and agree to
Terms&Conditions
Already have an account? Sign in!
Please go to the mailbox to approve the registration
CHINA-BASED
GLOBAL PLATFORM
FOR GPs & LPs
FOF WEEKLY Account terms of service
1. Members registered in this website must abide by the provisions on the administration of Internet electronic announcement service, and shall not publish information such as defamation of others, invasion of others' privacy, infringement of others' intellectual property rights, spread of viruses, political speech, commercial information, etc.
2, in all the articles published in the site, the site has the final right to edit, and reserve the right to print or publish to a third party, if your information is not complete, we will have the right to use your work published in the site without any notice.
3. During the registration process, you will choose the registration name and password. The choice of registration name shall comply with laws, regulations and social ethics. You must keep your password confidential and you will be responsible for all activities that take place under your registered name and password.
Already have an account? Sign in!
E-mail adress

PE Weekly | News and Events in Chinese PE Market (2020.10.11-2020.10.18)

FOF Weekly Updated October 18, 2020

This week (2020.10.11-2020.10.18), PE Weekly covers Policy, Fundraising, IPO and Industry news on PE market.  

Policy

CBIRC Leaves Chinese Insurance Institutions Responsible for Their Investment Management Capacity Building

11 October 2020----China Banking and Insurance Regulatory Commission (CBIRC), China’s top insurance regulator issued the “Notice on Optimizing the Supervision of Investment Management Capability of Insurance Institutions”, shifting from the record-filing administration to a new regulatory model combining self-assessment and information disclosure by insurance institutions with in-process and ex-post regulation by authorities. Indicative of CBIRC’s trust and confidence in insurance institutions, the new arrangement will relief Chinese insurance institutions in administrative procedures while forcing them to enhance self-regulation capacities. Read more...

 

China Urges High-Quality Development of Listed Companies

10 October 2020----The State Council issued a circular outlining plans to improve the quality of listed companies, in an effort to achieve healthy development of the capital market and perfect the socialist market economic system. Among others, phased implementation of registration-based IPO system and equity investment funds development are particularly emphasized. Read more... 

Fundraising 

Linear Capital Closes $200 M USD Fund

13 October 2020----Linear Capital officially closes its USD Fund IV at near $200 million, a 20% over-subscription. The Shanghai-based early-stage venture capital firm now manages 4 USD funds and 2 RMB funds with the total assets mounting to CNY 3 billion ($447.9 million). 

Focusing on frontier techs that power productivity and revolutionize lifestyle, the fund attracts new investors including top Asian asset management companies (AMC), professional investment institutions, Asian sovereign wealth funds, world-class university endowments, top Asian funds of funds (FOFs) as well as leading listed companies and founders from well-known Internet enterprises in China and beyond. Read more...

 

China Creation Ventures Closes Raises $300 M for Its Second Dollar-Denominated Fund

12 October 2020----China Creation Ventures (CCV), an early-stage venture capital firm, has made the final close of its second dollar-denominated fund at $300 million. As the third fund launched by CCV since it was established in 2017, the latest USD fund received capital commitments from a slew of new limited partners (LPs) including endowment funds, pension funds, and FOFs, besides existing investors. The LPs are based in North America, Europe and Asia.

With the fresh fund, CCV will continue to look at early-stage investments in industrial internet, new generation technology, artificial intelligence (AI), digital healthcare and new consumption. It manages about CNY 5 billion ($745 million) in assets, reaching a new milestone. Read more...

u=1316625674,1377105932&fm=26&gp=0.jpg

IPO

Tencent-Backed Miniso Raises $608 M in U.S. IPO 

15 October 2020----Miniso Group Holding Ltd., the Chinese budget household and consumer goods retailer backed by Tencent and Hillhouse Capital, raised $608 million in a U.S. initial public offering priced above a marketed range.

Founded by Chinese entrepreneur Ye Guofu and Japanese designer Miyake Junya, Miniso opened its first store in China in 2013. It markets itself as design-forward but extremely affordable - a bricks-and-mortar chain where customers can find everything from makeup to keyboards at dollar-store prices. Read more...

Industry

Shenzhen Puts Angel investments Under its Umbrella

13 October 2020----Shenzhen Angel FOF (Shenzhen Tianshi Fund of Funds), the government-guided fund which has increased CNY 5 billion ($746.5 million) to CNY 10 billion ($1.5 billion) in 2020, has recently promised to cover up to 40% losses of a single angel investment to motivate private capital in leaning towards early stage startups. That is offered besides renouncing all angel investments profits by the government-guided fund, providing a risk compensation mechanism by the junior investor. Read more...