CDH hits first close on China data center fund
CDH Investments has reached the first close of RMB1.5 billion ($228 million) on a data center industry fund. Part of the Chinese GP's mezzanine strategy, the vehicle has a full target of RMB2 billion.
China's Yingke raises $1.5b technology, healthcare fund
Shanghai-based Yingke Private Equity has raised RMB10 billion ($1.5 billion) for a fund that will focus on core technology and biomedical science assets in China.
Legend Star raises $119m for fourth renminbi fund
Legend Star, the early-stage investment arm of China’s Legend Holdings, has raised RMB800 million ($119 million) for its fourth renminbi-denominated fund.
China guidance funds: Money monsters
Government guidance funds are the policy-driven big beasts in China’s renminbi-fundraising landscape. While GPs may have little choice but to engage, they can do so judiciously
HarbourVest backs IDG renminbi fund restructuring
IDG Capital has completed a renminbi fund restructuring in which assets have been transferred from one local currency vehicle to another backed by offshore investors. It is the first secondary deal of its kind to use the Qualified Foreign Limited Partner...
Fund focus: Qiming's cleantech team spins out, raises $73m fund
Inspiration Capital, a spinout from Qiming Venture Partners, has raised RMB500 million for its debut fund that focuses on cleantech and advanced manufacturing investments in China
BA Capital raises $147m for renminbi fund, hits first close on dollar fund
BA Capital, a Shanghai-based venture capital firm also known as Black Ant Capital, has raised RMB1 billion ($147 million) for its second renminbi-denominated fund.
Panlin raises $148m for China VC fund
Shanghai-based venture capital firm Panlin Capital has raised RMB1 billion ($148 million) in its latest early-stage fund having spent about 16 months in the market.
Q&A: Starquest Capital's Frankie Fang
Frankie Fang, founding managing partner of China-focused fund-of-funds Starquest Capital, discusses early-stage valuations, specialization among domestic managers, and renminbi fundraising
China launches $12b National Green Development Fund
China has raised an initial RMB88 billion ($12.6 billion) for the first dedicated environmental fund launched by the central government.
China launches $1.4b semiconductor fund
Suzhou High-tech Zone has launched a RMB10 billion ($1.4 billion) integrated circuit (IC) fund with support from local government guidance funds, corporates, and financial institutions.
China's Yingke PE raises $286m
Shanghai-based Yingke Private Equity has closed its latest renminbi-denominated fund with commitments of RMB2 billion ($286 million), primarily from insurers and other financial institutions.
China establishes $5b SME support fund
China has launched a government guidance fund intended to support small and medium-sized enterprises (SMEs) with initial capital commitments of RMB35.75 billion ($5 billion).
Fund focus: Cathay taps strategic expertise in energy
Cathay Capital Private Equity is raising what it claims is China's first-ever smart energy fund, relying on contributions from LPs that offer strategic as well as financial support
Fund focus: China’s Glory wins VC backing
Glory Ventures counts several larger Chinese peers among the LPs in its latest renminbi and US dollar-denominated funds. They all want a glimpse of the firm’s deep technology pipeline
China Renaissance looks for opportunities amid turbulence
China Renaissance ended 2019 holding RMB7.2 billion ($1 billion) in dry powder across its latest flagship renminbi and US dollar-denominated funds, with the firm noting that “great investment windows typically surface during turbulent times.”
GP profile: GTJA Investment Group
Having established itself as a leading player in the renminbi space, China healthcare sector specialist GTJA Investment Group now wants to prove its worth to overseas LPs
Hillhouse establishes China VC unit
Hillhouse Capital has launched a China venture capital arm under the name GL Ventures. The first fund will reportedly be RMB10 billion ($1.4 billion) in size.
CICC raises $229m for China healthcare fund
China's CICC Capital has raised RMB1.6 billion ($229 million) for its first fund dedicated to the biopharmaceutical space.
Ex-Baidu executive raises $29m China business services fund
Longzhong Xinyi, a venture capital firm established by Hailong Xiang (pictured), formerly a senior executive at Baidu, has raised RMB200 million ($29 million) for its debut fund.
China targets $7b security industry fund
China Reform Holdings, a state-owned fund manager with RMB700 billion ($100 billion) in assets under management, has launched a RMB50 billion fund that will make investments in the security industry, with a particular focus on technology-enabled services.
Chinese guidance fund secures $21b in LP commitments
China’s Ministry of Finance has rallied state-owned enterprises (SOEs) and local governments to support a RMB147.2 billion ($20.9 billion) fund that will drive a transformation of the country's manufacturing sector.
Green Pine raises $140m for RMB tech fund
Shenzhen Green Pine Capital Partners (GPCP) has raised RMB1 billion ($140 million) for a fund that will target artificial intelligence (AI), robotics and internet of things (IoT) investments in China.
GP profile: Legend Capital
Legend Capital has absorbed lessons from its corporate sponsor to build a diversified investment business across the US dollar and renminbi spaces. It is now trying to take LP relations to a new level