This week (2021.4.5–2021.4.11), PE Weekly covers Fundraising news on PE market.

Fundraising

Hangzhou Sets up Fund of Funds Worth $15.3 Billion

9 April 2021 — — Hangzhou, the capital city of China’s eastern province Zhejiang, announced to launch a CNY 100 billion ($15.3 billion) fund of funds to promote the clustering of major industrial projects in the city during China’s Fourteenth Five-Year Plan. Read more…

China’s Baotou City Rolls Out $153 Million Guidance Fund for Emerging Industries

9April 2021 — — Dubbed Baotou Shiguai District Innovation Industrial Guidance Fund (LP), the first government-guided fund launched by district-level government in the…


In February, China’s central government unveiled the “№1 Document” for 2021, emphasizing industrial investments via rural revitalization funds (RRF) in an effort to modernize its countryside. Close on the document’s heels, China updated its poverty alleviation office to the rural vitalization body, taking a firm step further than poverty reduction to reduce the urban-rural divide.

It’s unprecedented for RRFs to be written in the “№1 Document”. As the file recognized, the Ministry of Finance and market players both must play their own irreplaceable part in this type of market-oriented fund. Financial support from the central government provides a safety net…


This week (2021.3.29–2021.4.4), PE Weekly covers Fundraising and IPO news on PE market.

Fundraising

China’s Dental Product Manufacturer Perfect Group to Set up $38 Million Fund

3 April 2021 — — Perfect Group Co., Ltd, a Chinese dental products manufacturer, announced that its wholly-owned subsidiary Nanjing Yunjie Technology Co., Ltd intends to pour CNY 250 million ($38.1 million) to set up an equity investment fund partnership, which will focus on the investments in premium companies in personal care industries. Read more…

Hillhouse-Affiliate HM Capital Hits First Close of Debut USD Fund

2 April 2021 — — HM Capital, the healthcare-focused…


Executive Summary

Executive Summary

Although it is a concept imported to China from the rest of the world, ESG investing has proven a huge success, particularly against the pandemic background. But now, a more proactive investment philosophy is taking hold: impact investing. We speak to several key market players to reveal how Chinese funds are implementing it, the problems it can lead to and the benefits it can have both for financial returns and achieving ESG goals.

Key Quotes

“China’s aspiration towards clean energy is on the very top of its agenda,”

Jason Tu, Cofounder and CEO of MioTech

“Green technologies create…


This week (2021.3.22–2021.3.28), PE Weekly covers Fundraising news on PE market.

Fundraising

Xiamen Borun Capital Completes New Round of Fund Securing for its Fund

26 March 2021 — — Xiamen Borun Capital Investment Management Co., Ltd has announced that the fund it manages has secured new round of commitments, reaching CNY 1.5 billion ($229.3 million). Among the new partners, Shenzhen Hongtu Yuechuan Equity Investment Fund Partnership (LP), Xiamen Jinyuan Investment Group Co., Ltd, and Xiamen Free Trade Investment Development Co., Ltd have committed CNY 320 million ($48.9 million), CNY 200 million ($30.6 million), CNY 100 million ($15.3 million) to the…


This week (2021.3.15–2021.3.21), PE Weekly covers Fundraising news on PE market.

Fundraising

China’s Geely and South Korea’s SK Holdings to Launch $300 Million E-mobility Fund

20 March 2021 — — South Korean industrial holding firm SK Holdings announced it was joining forces with China’s Zhejiang Geely Holding Group to launch a $300 million fund that invests in future mobility technology firms. The two partners will each contribute $300 million to the fund, with the reminder to be financed by global investors including European banks and Asian pension funds. The fund would invest in companies involved in future mobility solutions, such…


By Wang Chunjie from Rushan Capital

To maintain a competitive stance and a track record of outperformance, general partners (GPs) must find their own winning strategy in the market.

By the end of 2019, 14,882 registered private equity fund managers were managing CNY10.22 trillion ($1.57 trillion), according to the Asset Management Association of China (AMAC). When asked about their investment strategy, however, most were unclear. They simply beat around the bush, remarking for instance on historical success and social connections.

That is all opportunistic and unsustainable for limited partners (LPs), though. Taking a long-term view of asset allocation, they prefer…


This week (2021.3.8–2021.3.14), PE Weekly covers Fundraising and IPO news on PE market.

Fundraising

Yunnan Province Welcomes a $9.4 Million Equity Investment Fund

11 March 2021 — — Yunnan Industrial Investment Fund Co., Ltd partners with Chuxiong Yi Prefecture Green Industrial Investment Fund as well as Yunnan Industrial Investment Equity Investment Fund Management Co. to launch a CNY 61 million ($9.4 million) fund, to which the first two investors commit CNY 30 million ($4.6 million) respectively, to support local companies to go public. Read more…

China’s Golden Union Co-Launches $154 Million Fund

10 March 2021 — — Golden Union, a…


By Shi Mao from Conswall Capital

As the minimum unit of society, individuals often see their thoughts and behavior become the research topic of economists. If we generalize, the process of venture investment is actually an investor’s social science experiment in the real world. But what are the results? In this article, I use my experience at Conswall Capital to explore some valuable lessons on first principle thinking in the VC space.

The Power of Inertia: Some Old VC Habits Are Hard to Change

Isaac Newton defined inertia as an object that either remains at rest or continues to move…


This week (2021.3.1–2021.3.7), PE Weekly covers Fundraising news on PE market.

Fundraising

China’s Tongling City Welcomes a $92.4 Million Fund

5 March 2021 — — Founder H Fund Co., Ltd, a wholly-owned subsidiary of Founder Securities Co., Ltd, partners with Lhasa Xingqing Network Technology Co., Ltd and Tongling Economic and Technology Development Area Committee to co-launch a CNY 600 million ($92.4 million) fund to make equity investments in non-listed corporates and capital increase in listed companies in the area and beyond. Read more…

China’s Jiangsu Province Set up $154 Million Fund for Time-Honored Enterprises

5 March 2021 — — Jiangsu…

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A customized platform for GPs/LPs, providing news, data and insights.

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