PE Weekly | News and Events in Chinese PE Market (2021.5.10–2021.5.16)

This week (2021.5.10–2021.5.16), PE Weekly covers Fundraising and policy news on PE market.

Fundraising

China’s Golden Eagle to Launch Fund to Fuel Local Green Industry

14 May 2021 — — Golden Eagle International Group, Nanjing’s first foreign enterprise group, has announced to set up an industry fund in southeast China’s Guizhou province in a bid to facilitate the development of green energy and other industries. Chen Yihang, the CEO of the group, disclosed that the fund will be launched with a total capital commitment of CNY 8 billion ($1.2 billion). Read more…

China’s Wuhu 37 Interactive Co-Launches $78 Million Fund for Digital Industries in Guangzhou

14 May 2021 — — Guangzhou-based 37 Interactive Entertainment Network Technology Group, one of China’s leading game developer, has partnered with Guangzhou Industry and Information Fund to launch a CNY 500 million ($77.6 million) fund. The new vehicle aims to invest around digital industry, information technology and consumption upgrading. Read more…

China’s Ourpalm Technology Plans to Co-Launch $466 Million Fund

12 May 2021 — — Beijing Ourpalm Co., Ltd announced to commit CNY 50 million ($7.7 million) as a limited partner to partner with Huatai Zijin Investment Co., Ltd and other investors to launch a CNY 3 billion ($466 million) fund. Read more…

China’s CR Capital Ties up with CCBD to Set up $7.8 Billion Industry Fund

10 May 2021 — — Beijing-headquartered CR Capital Management has tied up with state-backed China Council for Brand Development (CCBD) to launch an industry fund with a total capital commitment of CNY 50 billion ($7.8 billion). The fund, which will be launched with a corpus of CNY 10 billion ($155 million), is set to invest in local brands in the consumer sector. Investments will flow into the fund in three tranches. Read more…

China’s Tire Giant Doublestar to Co-Launch $23 Million Equity Investment Fund

11 May 2021 — — Doublestar, the only Chinese state-owned listed tire company in Shandong province, announced the partnership with other investors to set up an equity investment fund with total capital commitment of CNY 150 million ($23.3 million) for carbon neutrality. The fund will mainly invest in new energy (hydrogen energy) related industries. Read more…

Fuzhou Welcomes $31 Million Equity Investment Fund for Emerging Industries

10 May 2021 — — China’s southeastern city Fuzhou welcomes a CNY 200 million ($31.1 million) fund with the aim to encourage private capital to flow into emerging industries centering around Fuzhou National Hi-tech Industrial Development Zone and local higher education mega center. Read more…

Suzhou Welcomes 26 Funds Over $9.3 Billion

9 May 2021 — — Suzhou has reached agreements with 26 funds with the total commitment of CNY 60 billion ($9.3 billion) including FOF, rural revitalization fund, industrial special fund, QFLP fund and so on. Semiconductor industry and technological manufacturing industry will be the investment targets. Read more…

Zhejiang’s Tonglu Co-Launches $155 Million Fund for Emerging Industries

9 May 2021 — — Hangzhou Oriental Jiafu Asset Management Co., Ltd ties up with Tonglu Economic Development Zone to set up a CNY 1 billion ($155.3 million) fund. It will mainly invest in growing-stage companies in fields such as smart manufacturing, new material, new energy, healthcare and other emerging industries. Read more…

China’s Baichuan Chemical Co-Launches $62 Million Fund

9 May 2021 — — Wuxi Baichuan Chemical Industrial Co., Ltd announced the partnership between its subsidiaries and Ningxia Industrial Guidance Fund Management Center to set up a CNY 400 million ($62.1 million). The new vehicle mainly serves the capital fueler for Baichuan’s subsidiaries. Read more…

Xiaomi Sets up Private Equity Fund Management Company

9 May 2021 — — Xiaomi, a Chinese smartphone leading player, has formed a private equity fund management company with registered capital of CNY 100 million ($15.5 million). The company will be involved in private equity investment capital management and venture investment fund management. The company is headed by Xiaomi’s CFO Alain Lam. Read more…

Policy

China’s Xiong’an New Area Welcomes Pilot QFLP Projects

11 May 2021 — — Xiong’an New Area government announced that pilot QFLP projects will be carried out in China (Hubei) Pilot Free Trade Zone in order to better attract foreign investments. The projects feature lower thresholds and wider investment areas on the equal footing as China’s domestic investors. Read more…

Suzhou Introduces Measures to Facilitate Local Equity Investments

11 May 2021 — — Suzhou Municipal Government rolled out a series of measures to form a local equity investment cluster to encourage equity investment institutions and professionals with rewards in a bid to bring more private capital to new-generation information technology, high-end equipment, new material, new energy, biomedicine and other key technologies development. Read more…

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