PE Weekly | News and Events in Chinese PE Market (2021.4.5–2021.4.11)

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

Fundraising

China’s CATL to Commit $153 Million to Industrial Fund for New Energy

16 April 2021 — — Contemporary Amperex Technology Co., Limited (CATL), a global leader in the development and manufacturing of lithium-ion batteries, announced that its wholly-owned subsidiary Ningbo Meishan Bonded Port Area Wending Investment Partnership commits CNY 1 billion ($153.3 million) as a limited partner to set up a CNY 3.4 billion ($521.4 million) industrial fund. The new vehicle keeps its eyes on investments in such fields as battery raw materials, power battery system solutions, new energy vehicles, energy storage systems, and power battery recycling. Read more…

Hangzhou’s Leading Retail Brand Jiebai to Co-Launch $153 Million Fund

16 April 2021 — — Hangzhou Jiebai Group, a local famous retail brand, announced to partner with Shanghai Fosun Capital to launch a fund with the scale of no more than CNY 1 billion ($153.3 million). The fund focuses on the investments in fashion brands, technology of consumption as well as consumption services. Read more…

China’s Linear Venture Exceeds Fundraising Target of its First Co-Investment Fund by 60%

16 April 2021 — — China-based venture capital firm Linear Venture has completed the fundraising for its first dollar-denominated co-investment fund at $100 million, 60% up from its original target. The fund has secured commitments from investor including top university endowments, renowned fund of funds, and family offices. Read more…

China’s Tech Giant Huawei Set up $307 Million Investment Partnership

16 April 2021 — — Huawei Technologies Co., Ltd joined hands with Huawei Device Co., Ltd and Huawei-related Hubble Technology Investment Co., Ltd to set up an investment partnership (limited partnership) of CNY 2 billion ($306.7 million), to which it commits CNY 1.38 billion ($211.6 million). Read more…

China’s Probing VC Closes its First Fund

15 April 2021 — — Probing VC, a Chinese venture investor, has announced the close of its first fund dubbed “Probing New Medical Care Fund”, which will focus on the in-growth projects in medical and health care and life technologies. Read more…

China’s Zhongji Innolight Co-Launches Fund for Optoelectronics Industry

14 April 2021 — — Zhongji Innolight Co., Ltd, a Chinese enterprise focusing on intelligent equipment and optical communication device, announced partnership with Suzhou Oriza Holdings Co., and China-Singapore Suzhou Industrial Park Venture Investment Co., Ltd to set up a CNY 200 million ($30.7 million). The new vehicle will target the investments in enterprises of great potential in optoelectronics industry and optical communication industry. Read more…

Foodtech Investor Lever VC Holds Fourth Close of Fund I at $46 Million

14 April 2021 — — Lever VC, a venture capital fund investing in alternative protein companies, has made the fourth close of its Lever VC Fund I at $46 million as it gears up to ramp up investments in early-stage alternative protein startups around the world. The fund’s third and fourth close include the addition of three corporate strategic investors from Europe and Asia including one of the world’s biggest agri-food companies that has over $50 billion in annual revenue. The vehicle also secured capital injections from NFL and NBA athletes, British nobility, alternative protein industry veterans, food corporates in Europe and Asia, as well as a global range of family offices. Read more…

Shandong Weida Group to Commit $307 Million to Set up Industrial Fund

13 April 2021 — — China’s leading CNC machine manufacturer Shandong Weida Group made the announcement that it will partner with Beijing Futang Hangxin Investment Management Co., Ltd to launch a CNY 2 billion ($306.7 million) fund. The investment targets of the new vehicle are aerospace, military equipment informatization, high-end equipment manufacturing and other fields. Read more…

China’s Changan Automobile to Commit $38.3 Million to Launch $77 Million Fund

13 April 2021 — — Changan Mobile, a Chinese automobile manufacturer, announced the partnership with CCB Principal Asset Management Co., Ltd to set up an equity investment fund. The vehicle targets the investments in new energy, smart internet connectivity and other fields in automobile industrial chain. Read more…

Guoxiong Capital Set up $77 Million Industrial Fund for Carbon Neutrality

13 April 2021 — — China’s Guoxiong Capital announced to set up a CNY 500 million ($76.7 million) fund for carbon neutrality, with the focus on investments in advanced technology enterprises in the field of carbon neutrality across the world. Read more….

Jiangsu Kunshan Welcomes a $767 Million Fund for Taiwan Merchants

12 April 2021 — — A fund aiming to promote the development of local Taiwan merchants was announced in Kunsan, Jiangsu province. The new CNY 5-billion ($766.7 million) fund is the first fund with the focus on promoting the transformation and upgrading of Taiwan’s enterprises and encouraging Taiwan’s youth to start businesses. Read more…

Xiaomi, Kuaishou-backer 5Y Capital Closes New USD, RMB Funds at over $2 Billion

12 April 2021 — — 5Y Capital, the Chinese venture capital (VC) firm that has backed smartphone brand Xiaomi and online short-video app Kuaishou, has closed an unspecified number of USD- and RMB- denominated funds at over CNY 13 billion ($2 billion) in total. This fundraising “significantly exceeded the firm’s original target and hit the hard caps in a very short time after initial launch. Investors include both new and existing long-term limited partners (LPs) from home and abroad. Read more…

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