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PE Weekly | News and Events in Chinese PE Market (2021.5.17-2021.5.23)

FOF Weekly Updated May 23, 2021


This week (2021.5.17-2021.5.23), PE Weekly covers Fundraising news on PE market.

Fundraising

China’s Meridian Capital Closes its Sixth RMB Fund at $329 Million

21 May 2021----Meridian Capital, a leading TMT-focused venture capital firm, has completed fundraising for its sixth RMB fund at an aggregate of CNY 2.12 billion ($329 million). The vehicle received capital commitments from state-owned development funds, local government-led industry funds, funds of funds, insurance groups and conglomerates. Going forward, the fund will continue to bet on new consumption and technology sectors. Read more

Hunan Welcomes Fund for Charity and Public Welfare

21 May 2021----Redbud Capital, a Chinese VC Fund of Funds, partnered with Hunan Wispring Education Development Foundation to set up a fund to support local public welfare cause through investments. The new vehicle has secured over CNY 100 million ($15.5 million) from founders of the Foundation, Redbud Capital, QF Capital, Richland Capital and Zhuiyuan VC. Read more

China’s Yangyuan Zhihui Beverage Launches $466 Million Fund

21 May 2021----Hebei Yangyuan Zhihui Beverage Co., Ltd, a Chinese leading beverage company, announced its partnership with Beijing Well-Known Investment Fund Management Co., Ltd to launch a CNY 3 billion ($466.2 million) fund. The fund mainly makes equity investments in premium enterprises in food and beverage industries as well as enterprises in high technology sectors. Read more

Chongqing Sets up Investment Group Targeting Technology Innovation

21 May 2021----Government backed company dubbed Chongqing Technology Innovation Investment Group Co., Ltd was set up with registered capital of CNY 10 billion ($1.6 billion) with the investment focus on technology companies in the initial stage. Read more

Hubei Technology Innovation Development Fund Debuts with Target Scale of $155 Million

21 May 2021----Hubei Provincial High Technology Industry Investment Co., Ltd initiated and co-launched a fund dubbed Hubei Technology Innovation Development Fund. Targeting CNY 10 billion ($155.4 million) in total, the fund has secured CNY 2 billion ($310.8 million) in the first close, into which the rest commitments flow in four tranches. Read more

China’s Legend Capital Closes Healthcare Continuation Fund after $270 Million Secondary Deal

20 May 2021----Legend Capital, a subsidiary of China’s Legend Holdings, announced that it has closed its healthcare continuation fund – LC Healthcare Continued Fund I – having raised $270 million from a secondary transaction. Read more

China’s Sanyou Medical to Commit $31 Million to Fund for Medical Sector

20 May 2021----Shanghai Sanyou Medical announced the commitment of CNY 200 million ($31.1 million) to a medical-oriented fund with the targeted scale of CNY 2 billion ($310.8 million). The vehicle mainly invests in biomedicine, biotechnology, healthcare and related sectors. Read more

China’s Eminence Ventures Closes its Second USD Fund at $120 Million

20 May 2021----Eminence Venture, a Chinese early-stage enterprise software and cloud computing investor, has raised $120 million for its second fund, with backing from Silicon Valley’s Emergence Capital and Hong Kong’s Unicorn Capital Partners. Investors in the new fund include Asian and U.S. university endowments, charitable foundations, sovereign wealth funds, family offices, and founders and executives of China’s top-tier technology companies. The latest close brings Eminence’s total assets under management to roughly US$ 200 million. Read more

Wuhan Welcomes $155 Million Investment Guidance Fund

20 May 2021----Wuhan launched a partner investment guidance fund, targeting CNY 1 billion ($155.4 million) in total and CNY 200 million ($31 million) in the first close. Read more

China’s Zibo Municipal Government Launches Both FOFs and Secondary Fund

20 May 2021----Zibo City, Shandong Province, announced the launch of both a FOFs targeting the investments in high-tech enterprises in rapid growth and a secondary fund aiming to create a more favorable climate for venture investment and to improve local industrial financial system. Read more

Guangzhou’s CF Capital Sets up Fund for Emerging Industries

19 May 2021----CF Capital, one of the subsidiaries of Guangzhou SF Fund, has partnered with state-backed Shunsheng Investment to set up an investment fund. The new vehicle mainly invests in smart manufacturing, new-generation information technology, medical equipment, semiconductor and new energy industrial chains. Read more

Jiangsu Province Welcomes $155 Million Food-Focused Fund

19 May 2021----Haishengyin Investment Holdings Co. Ltd has allied with Jiangsu Taixing Agricultural Products Processing Park to launch a CNY 1 billion ($155.4 million) fund, with the commitment of CNY 300 million ($46.6 million) for the first close already in place. The fund will focus on investments in sectors such as food, beverage, and agricultural product supply chains. Read more

Henan Province to Set up $4.6 Billion Fund for Railway Industry

19 May 2021----China’s Henan province announced the decision to roll out an industrial investment fund with the total scale of CNY 30 billion ($4.6 billion) for railway industry. The new vehicle targets CNY 10 billion ($1.5 billion) in the first close by the end of 2021. Read more

Supply Chain-Focused Chinese VC Buhuo Ventures Closes Master Fund at $243 Million

19 May 2021----Buhuo Ventures, a Beijing-based venture capital firm specializing in early- and growth-stage startups, announced that it has secured the final close of a new master fund at CNY 1.6 billion ($243 million). The master fund comprises Buhuo’s second RMB-denominated fund of CNY 818 million ($127 million) and its maiden $115 million USD fund. The capital commitments for the RMB fund came from leading Chinese financial groups, investment firms, govt-led industry funds, funds of funds, and family offices, among others. The debut dollar fund attracted limited partners from the US besides Asia’s marquee dollar-led FOFs and family offices. Read more

Guangdong’s Jiangmen City Debuts $3.1 Billion Industrial Development Fund

18 May 2021----State-owned Assets Supervision and Administration Commission of Jiangmen Municipality has reached agreements with 10 investment institutions to set up Jiangmen Industrial Development Fund in the form of FOF and sub-funds with the total scale of CNY 20 billion ($3.1 billion). Read more

DCL Investments Reaches First Closing of New Distressed Asset Restructuring and Acquisition Fund with Target Size About 3 Billion Yuan

18 May 2021---- Chinese distressed asset investment firm DCL Investments has reached the first closing of a distressed asset restructuring and acquisition fund and the target size is about CNY 3 billion ($465.6 million). Read more

Xiaomi Backs up SME Development Fund in Northwest China’s Xi’an

17 May 2021----SME Development Fund (Xi’an) Partnership (LP) has been launched with the registered capital of CNY 4 billion ($621.7 million), receiving the commitment from Xiaomi as the biggest shareholder. Read more

China’s Weibo Co-Launches $155 Million Fund for Automobile Technology Industry

17 May 2021----Cheshi Holdings Ltd announced the partnership with Weibo’s subsidiary to launch a CNY 1 billion ($155.4 million) fund to invest in promising projects related to automobile and technology in fields such as industrial internet, smart automobile, new consumption and so on. Read more

 

 

 

 

 

 

 

 

 

 


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PE Weekly | News and Events in Chinese PE Market (2021.7.19-2021.7.25)
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PE Weekly | News and Events in Chinese PE Market (2021.7.12-2021.7.18)
REGISTER NOW !
CHINA-BASED
GLOBAL PLATFORM
FOR GPs & LPs
E-mail adress
Password
l read and agree to
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Create a new account Sign up!
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CHINA-BASED
GLOBAL PLATFORM
FOR GPs & LPs
Name
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E-mail address
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l read and agree to
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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 (2021.5.17-2021.5.23)

FOF Weekly Updated May 23, 2021


This week (2021.5.17-2021.5.23), PE Weekly covers Fundraising news on PE market.

Fundraising

China’s Meridian Capital Closes its Sixth RMB Fund at $329 Million

21 May 2021----Meridian Capital, a leading TMT-focused venture capital firm, has completed fundraising for its sixth RMB fund at an aggregate of CNY 2.12 billion ($329 million). The vehicle received capital commitments from state-owned development funds, local government-led industry funds, funds of funds, insurance groups and conglomerates. Going forward, the fund will continue to bet on new consumption and technology sectors. Read more

Hunan Welcomes Fund for Charity and Public Welfare

21 May 2021----Redbud Capital, a Chinese VC Fund of Funds, partnered with Hunan Wispring Education Development Foundation to set up a fund to support local public welfare cause through investments. The new vehicle has secured over CNY 100 million ($15.5 million) from founders of the Foundation, Redbud Capital, QF Capital, Richland Capital and Zhuiyuan VC. Read more

China’s Yangyuan Zhihui Beverage Launches $466 Million Fund

21 May 2021----Hebei Yangyuan Zhihui Beverage Co., Ltd, a Chinese leading beverage company, announced its partnership with Beijing Well-Known Investment Fund Management Co., Ltd to launch a CNY 3 billion ($466.2 million) fund. The fund mainly makes equity investments in premium enterprises in food and beverage industries as well as enterprises in high technology sectors. Read more

Chongqing Sets up Investment Group Targeting Technology Innovation

21 May 2021----Government backed company dubbed Chongqing Technology Innovation Investment Group Co., Ltd was set up with registered capital of CNY 10 billion ($1.6 billion) with the investment focus on technology companies in the initial stage. Read more

Hubei Technology Innovation Development Fund Debuts with Target Scale of $155 Million

21 May 2021----Hubei Provincial High Technology Industry Investment Co., Ltd initiated and co-launched a fund dubbed Hubei Technology Innovation Development Fund. Targeting CNY 10 billion ($155.4 million) in total, the fund has secured CNY 2 billion ($310.8 million) in the first close, into which the rest commitments flow in four tranches. Read more

China’s Legend Capital Closes Healthcare Continuation Fund after $270 Million Secondary Deal

20 May 2021----Legend Capital, a subsidiary of China’s Legend Holdings, announced that it has closed its healthcare continuation fund – LC Healthcare Continued Fund I – having raised $270 million from a secondary transaction. Read more

China’s Sanyou Medical to Commit $31 Million to Fund for Medical Sector

20 May 2021----Shanghai Sanyou Medical announced the commitment of CNY 200 million ($31.1 million) to a medical-oriented fund with the targeted scale of CNY 2 billion ($310.8 million). The vehicle mainly invests in biomedicine, biotechnology, healthcare and related sectors. Read more

China’s Eminence Ventures Closes its Second USD Fund at $120 Million

20 May 2021----Eminence Venture, a Chinese early-stage enterprise software and cloud computing investor, has raised $120 million for its second fund, with backing from Silicon Valley’s Emergence Capital and Hong Kong’s Unicorn Capital Partners. Investors in the new fund include Asian and U.S. university endowments, charitable foundations, sovereign wealth funds, family offices, and founders and executives of China’s top-tier technology companies. The latest close brings Eminence’s total assets under management to roughly US$ 200 million. Read more

Wuhan Welcomes $155 Million Investment Guidance Fund

20 May 2021----Wuhan launched a partner investment guidance fund, targeting CNY 1 billion ($155.4 million) in total and CNY 200 million ($31 million) in the first close. Read more

China’s Zibo Municipal Government Launches Both FOFs and Secondary Fund

20 May 2021----Zibo City, Shandong Province, announced the launch of both a FOFs targeting the investments in high-tech enterprises in rapid growth and a secondary fund aiming to create a more favorable climate for venture investment and to improve local industrial financial system. Read more

Guangzhou’s CF Capital Sets up Fund for Emerging Industries

19 May 2021----CF Capital, one of the subsidiaries of Guangzhou SF Fund, has partnered with state-backed Shunsheng Investment to set up an investment fund. The new vehicle mainly invests in smart manufacturing, new-generation information technology, medical equipment, semiconductor and new energy industrial chains. Read more

Jiangsu Province Welcomes $155 Million Food-Focused Fund

19 May 2021----Haishengyin Investment Holdings Co. Ltd has allied with Jiangsu Taixing Agricultural Products Processing Park to launch a CNY 1 billion ($155.4 million) fund, with the commitment of CNY 300 million ($46.6 million) for the first close already in place. The fund will focus on investments in sectors such as food, beverage, and agricultural product supply chains. Read more

Henan Province to Set up $4.6 Billion Fund for Railway Industry

19 May 2021----China’s Henan province announced the decision to roll out an industrial investment fund with the total scale of CNY 30 billion ($4.6 billion) for railway industry. The new vehicle targets CNY 10 billion ($1.5 billion) in the first close by the end of 2021. Read more

Supply Chain-Focused Chinese VC Buhuo Ventures Closes Master Fund at $243 Million

19 May 2021----Buhuo Ventures, a Beijing-based venture capital firm specializing in early- and growth-stage startups, announced that it has secured the final close of a new master fund at CNY 1.6 billion ($243 million). The master fund comprises Buhuo’s second RMB-denominated fund of CNY 818 million ($127 million) and its maiden $115 million USD fund. The capital commitments for the RMB fund came from leading Chinese financial groups, investment firms, govt-led industry funds, funds of funds, and family offices, among others. The debut dollar fund attracted limited partners from the US besides Asia’s marquee dollar-led FOFs and family offices. Read more

Guangdong’s Jiangmen City Debuts $3.1 Billion Industrial Development Fund

18 May 2021----State-owned Assets Supervision and Administration Commission of Jiangmen Municipality has reached agreements with 10 investment institutions to set up Jiangmen Industrial Development Fund in the form of FOF and sub-funds with the total scale of CNY 20 billion ($3.1 billion). Read more

DCL Investments Reaches First Closing of New Distressed Asset Restructuring and Acquisition Fund with Target Size About 3 Billion Yuan

18 May 2021---- Chinese distressed asset investment firm DCL Investments has reached the first closing of a distressed asset restructuring and acquisition fund and the target size is about CNY 3 billion ($465.6 million). Read more

Xiaomi Backs up SME Development Fund in Northwest China’s Xi’an

17 May 2021----SME Development Fund (Xi’an) Partnership (LP) has been launched with the registered capital of CNY 4 billion ($621.7 million), receiving the commitment from Xiaomi as the biggest shareholder. Read more

China’s Weibo Co-Launches $155 Million Fund for Automobile Technology Industry

17 May 2021----Cheshi Holdings Ltd announced the partnership with Weibo’s subsidiary to launch a CNY 1 billion ($155.4 million) fund to invest in promising projects related to automobile and technology in fields such as industrial internet, smart automobile, new consumption and so on. Read more