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PE Weekly | News and Events in Chinese PE Market (2020.11.09-2020.11.15)

FOF Weekly Updated November 15, 2020

This week (2020.11.09-2020.11.15), PE Weekly covers Fundraising and Policy news on PE market. 

Fundraising

China’s Yingke PE Closes its Third RMB Fund in 2020 at $1.5B

13 November 2020----Yingke PE, a Shanghai-based private equity and asset management firm, announced that it has raised CNY10 billion ($1.5 billion) for its new RMB-denominated fund, which is its third in 2020.

Around 90 percent of the fresh capital raised is from existing limited partners (LPs). Yingke’s marquee investors include financial groups, banks, insurance companies, state-owned organizations, and listed entities.

Its cornerstone investors include four listed companies – China’s leading contract organization Tigermed, fluorine chemical provider Zhejiang Yongtai Technology, flavor and fragrance player Shanghai Bairun Investment Holding Group, and pharmaceutical equipment supplier Shanghai Tofflon Science and Technology. The fund will focus on biomedicine and technology innovation. Read more... 

Weifang, Shangdong Province Initiates a $757M New Energy Vehicle Fund

12 November 2020----Weifang, Shangdong Province, initiates to establish a CNY5 billion ($756.8 million) new energy vehicle fund in order to popularize internet-connected, smart electricity cars in the sharing economy fashion. And the guided fund is now looking for fund managers, industrial capitalists, and investment services providers across the country.  Read more...

Beijing Hard Technology Fund II Kicks off

11 November 2020----Beijing Hard Technology Fund II was officially initiated with a target size of CNY1.5 billion ($227.1 million), which will focus on semiconductor, chip, space technology as well as 5G and IoT. Coming with that is a a laboratory established by Bank of Ningbo Beijing Branch, China CITIC Bank Beijing Branch, China Technology Exchange, CASSTAR, etc to boost inclusive finance and hard technologies. Read more...

China’s Allin Capital Sets up a Semiconductor Angel Fund

11 November 2020----Allin Capital, a Chinese semiconductor industry-focused investor, announced the official launch of its first angel fund in semiconductor industry besides its early and mid-stage funds. Allin Capital is experienced and well-connected in Semiconductor equipment/materials, wafer fabrication, sensors and semiconductor applications spaces. Read more...

pexels-photo-317356.jpg

Tencent-Backed Qi’e Xingren Co-Launches a $151M Medical Industry Investment Fund

10 November 2020----Qi’e Xingren, a Tencent-backed healthcare services provider, together with Changjiang Zhaoyin Sector Fund Management Co., Ltd and Wuhan Hi-Tech Group, announced the launch of a medical industry investment fund, with each of the three utilizing their industrial, financial and government communication advantages respectively. The fund, with the total scale of CNY1 billion ($151.4 million), focuses on equity investment in the medicine and healthcare field, to support Wuhan enterprises in the medicine circle, including epidemic prevention and control. Read more...

Chinese Distressed Asset Investor DCL Closes New RMB Fund at $454m

9 November 2020----DCL Investments, a distressed asset investment firm backed by Chinese alternative asset manager CDH investments, announced the completion of a new RMB-denominated fund at CNY3 billion ($454.5 million). 

More than 95 percent of the new fund’s limited partners (LPs) are institutional investors, including insurance companies, banks, securities companies, state-owned enterprises, investment platforms funded by Chinese regional governments, funds of funds (FOFs), university endowments, and family offices. The fund focuses on China’s distressed asset investment opportunities, covering non-performing loans (NPLs), distressed real asset restructuring, distressed corporate restructuring, and beyond.  Read more... 

Policy

CBIRC Liberates Insurance Funds to Make Equity Investment for Financial Returns 

13 November 2020----China Banking and Insurance Regulatory Commission (CBIRC) issued a notice in which it made a clear claim to remove industry limits on financial returns-oriented equity investment with insurance funds. It aims to empower insurance funds to support the real economy through direct financing channel. Black list and positive example setting will both be used in practice for insurance fund to perform equity investment seeking financial returns.  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 (2020.11.09-2020.11.15)

FOF Weekly Updated November 15, 2020

This week (2020.11.09-2020.11.15), PE Weekly covers Fundraising and Policy news on PE market. 

Fundraising

China’s Yingke PE Closes its Third RMB Fund in 2020 at $1.5B

13 November 2020----Yingke PE, a Shanghai-based private equity and asset management firm, announced that it has raised CNY10 billion ($1.5 billion) for its new RMB-denominated fund, which is its third in 2020.

Around 90 percent of the fresh capital raised is from existing limited partners (LPs). Yingke’s marquee investors include financial groups, banks, insurance companies, state-owned organizations, and listed entities.

Its cornerstone investors include four listed companies – China’s leading contract organization Tigermed, fluorine chemical provider Zhejiang Yongtai Technology, flavor and fragrance player Shanghai Bairun Investment Holding Group, and pharmaceutical equipment supplier Shanghai Tofflon Science and Technology. The fund will focus on biomedicine and technology innovation. Read more... 

Weifang, Shangdong Province Initiates a $757M New Energy Vehicle Fund

12 November 2020----Weifang, Shangdong Province, initiates to establish a CNY5 billion ($756.8 million) new energy vehicle fund in order to popularize internet-connected, smart electricity cars in the sharing economy fashion. And the guided fund is now looking for fund managers, industrial capitalists, and investment services providers across the country.  Read more...

Beijing Hard Technology Fund II Kicks off

11 November 2020----Beijing Hard Technology Fund II was officially initiated with a target size of CNY1.5 billion ($227.1 million), which will focus on semiconductor, chip, space technology as well as 5G and IoT. Coming with that is a a laboratory established by Bank of Ningbo Beijing Branch, China CITIC Bank Beijing Branch, China Technology Exchange, CASSTAR, etc to boost inclusive finance and hard technologies. Read more...

China’s Allin Capital Sets up a Semiconductor Angel Fund

11 November 2020----Allin Capital, a Chinese semiconductor industry-focused investor, announced the official launch of its first angel fund in semiconductor industry besides its early and mid-stage funds. Allin Capital is experienced and well-connected in Semiconductor equipment/materials, wafer fabrication, sensors and semiconductor applications spaces. Read more...

pexels-photo-317356.jpg

Tencent-Backed Qi’e Xingren Co-Launches a $151M Medical Industry Investment Fund

10 November 2020----Qi’e Xingren, a Tencent-backed healthcare services provider, together with Changjiang Zhaoyin Sector Fund Management Co., Ltd and Wuhan Hi-Tech Group, announced the launch of a medical industry investment fund, with each of the three utilizing their industrial, financial and government communication advantages respectively. The fund, with the total scale of CNY1 billion ($151.4 million), focuses on equity investment in the medicine and healthcare field, to support Wuhan enterprises in the medicine circle, including epidemic prevention and control. Read more...

Chinese Distressed Asset Investor DCL Closes New RMB Fund at $454m

9 November 2020----DCL Investments, a distressed asset investment firm backed by Chinese alternative asset manager CDH investments, announced the completion of a new RMB-denominated fund at CNY3 billion ($454.5 million). 

More than 95 percent of the new fund’s limited partners (LPs) are institutional investors, including insurance companies, banks, securities companies, state-owned enterprises, investment platforms funded by Chinese regional governments, funds of funds (FOFs), university endowments, and family offices. The fund focuses on China’s distressed asset investment opportunities, covering non-performing loans (NPLs), distressed real asset restructuring, distressed corporate restructuring, and beyond.  Read more... 

Policy

CBIRC Liberates Insurance Funds to Make Equity Investment for Financial Returns 

13 November 2020----China Banking and Insurance Regulatory Commission (CBIRC) issued a notice in which it made a clear claim to remove industry limits on financial returns-oriented equity investment with insurance funds. It aims to empower insurance funds to support the real economy through direct financing channel. Black list and positive example setting will both be used in practice for insurance fund to perform equity investment seeking financial returns.  Read more...