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Renminbi fund

mengyang-yang-cicc
Q&A: CICC Capital’s Mengyang Yang

Mengyang Yang, an executive director and head of private equity in Hong Kong at CICC Capital, on China’s post-pandemic revival, plans for a flagship US dollar fund, and managing guidance funds

  • Greater China
  • 14 December 2022
renminbi-note-man-china
Affirma hits first close on renminbi fund

Emerging markets-focused private equity firm Affirma Capital has reached a first close of approximately CNY 1.5bn (USD 215m) on its debut renminbi-denominated fund.

  • Greater China
  • 09 December 2022
rokid-ar-vr-glasses
Local investors pump $54m into China's Rokid

Rokid, a China-based company specialising in augmented reality (AR) technology, has raised CNY384m(USD53mn)across two tranches, largely from state-linked investors.

  • Greater China
  • 10 November 2022
asia-consumer-shopping-s
L Catterton hits first close on debut renminbi fund

L Catterton, a global private equity firm dedicated to consumer-focused investments, has reached a first close on its debut renminbi-denominated fund. The overall target is CNY 2bn (USD 275m).

  • Greater China
  • 04 November 2022
china-map-globe
China's Inspiration Capital closes Fund II on $82m

Inspiration Capital, a spinout from Qiming Venture Partners, has raised CNY 600m (USD 82m) for its second renminbi-denominated fund focused on cleantech and advanced manufacturing investments in China.

  • Greater China
  • 03 November 2022
usd-rmb-dollar-renminbi
China's Bright Capital raises $137m

China-based venture capital firm Bright Capital has raised CNY 1bn (USD 137m) across two funds - its third renminbi-denominated vehicle and its first US dollar fund.

  • Fundraising
  • 01 November 2022
yin-yang
China fundraising: Onshore vs offshore

Raising capital for China strategies is difficult right now, regardless of currency, but are geopolitical forces enabling the rise of renminbi-denominated funds at the expense of the US dollar?

  • Greater China
  • 19 October 2022
renminbi-note-man-china
China's BA Capital raises $349m for latest renminbi fund

Black Ant Capital, also known as BA Capital, has closed its third renminbi-denominated fund on CNY 2.5bn (USD 349m), with commitments from independent fund-of-funds, government guidance funds, insurers, and corporates.

  • GPs
  • 12 October 2022
hong-kong-cityscape-sunset
Shenzhen investors offered cash handouts for Hong Kong IPOs

Shenzhen-based venture capital investors will receive one-off cash rewards for taking companies public in Hong Kong and sponsoring special purpose acquisition companies (SPACs) that list on the territory’s stock exchange.

  • Greater China
  • 09 September 2022
rmb-panel
Renminbi GPs wary of government guidance funds as LPs

Chinese government guidance funds represent a potentially rich source of capital for managers in the renminbi-denominated space, but some are reluctant to take it, the Hong Kong Venture Capital & Private Equity Association's (HKVCA) China forum heard.

  • Greater China
  • 29 August 2022
renminbi-rmb-notes
China’s Whale Capital achieves first close on food fund

Chinese consumer-focused VC firm Whale Capital has reached a first close of undisclosed size on its latest renminbi-denominated fund, which will specialise in the food industry. The target is CNY 500m (USD 73m).

  • Greater China
  • 25 August 2022
renminbi-rmb-notes
Winreal hits $150m first close on China tech fund

Winreal Investment, a China-based venture capital firm established by a former chief engineer at domestic telecom equipment provider ZTE Corporation, has reached a first close of CNY 1.3bn (USD 150m) on its latest renminbi-denominated fund.

  • Greater China
  • 23 August 2022
nisa-leung-qiming
Fund focus: Qiming picks its moment

China’s Qiming Venture Partners more than doubled its fund size from the previous vintage, having launched the vehicle prior to the recent chaos and leveraged LP demand for the familiar

  • Greater China
  • 12 July 2022
dollar-bills-money-notes-roll
Qiming raises $3.2b across dollar, renminbi funds

China-focused VC firm Qiming Venture Partners has closed its eighth US dollar-denominated fund at the hard cap of USD 2.5bn – more than twice the size of the previous vintage – and raised CNY 4.7bn (USD 701m) for its latest renminbi vehicle.

  • Greater China
  • 11 July 2022
dollar-bill-money-2
Joy sets modest target for China VC fund - update

Beijing-based Joy Capital has set a lower target for its latest US dollar-denominated fund than in the previous vintage and decided against raising a second accompanying growth vehicle.

  • Greater China
  • 04 July 2022
renminbi-rmb-notes
China's ZWC hits first close on debut renminbi fund

Chinese venture capital firm ZWC Partners has reached the first close of CNY 1bn (USD 149m) on its debut renminbi-denominated fund. The overall target is CNY 1.5bn.

  • Greater China
  • 22 June 2022
liquidity-tap-water-exit
China secondaries: Liquidity play

Under pressure to generate returns amid a challenging fundraising environment, Chinese GPs are beginning to revise pricing expectations to get traction with continuation funds

  • Greater China
  • 07 June 2022
renminbi-rmb-notes
Cathay achieves $241m first close on renminbi fund

Cathay Capital Private Equity has reached a first close of CNY 1.6bn (USD 241m) on its second renminbi-denominated growth fund.

  • Greater China
  • 07 June 2022
carbon-footprint-leaf-water-feet-sustainability
China’s Primavera seeks $1.5b for carbon neutrality fund

China-focused Primavera Capital Group is looking to raise approximately CNY 10bn (USD 1.5bn) for a carbon neutrality fund, emphasising the increased popularity of sustainability strategies among local private equity investors.

  • Greater China
  • 25 May 2022
usd-rmb-dollar-renminbi
China's BlueRun $819m across US dollar, renminbi funds

China-based BlueRun Ventures has closed its third US dollar-denominated China fund and third renminbi vehicle with aggregate commitments of CNY 5.5bn (USD 819m).

  • Greater China
  • 20 May 2022
renminbi-sky-fly-bird-china
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
renminbi-note-man-china
China's Cloudview reaches $316m first close on renminbi fund

Cloudview Capital, a Chinese GP that previously operated as a joint venture with ICBC International, has completed a first close on its second renminbi-denominated Fund with CNY 2bn (USD 316m) in commitments.

  • Greater China
  • 11 March 2022
rmb-funds
Oriza raises $660m for China semiconductor fund

Oriza Puhua, a China semiconductor-focused strategy under Oriza Holdings, has raised CNY 4.2bn (USD 660m) for its third renminbi-denominated fund.

  • Greater China
  • 10 February 2022
fashion-shopping-retail-consumer
Deal focus: Foundation eyes Bright future

In leading a USD 82m cross-currency restructuring of a consumer-tech portfolio managed by China’s Bright Capital, Foundation Private Equity opted for a structure that is unusual yet prioritises alignment

  • Greater China
  • 25 January 2022
1 2 3

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