PE Weekly | News and Events in Chinese PE Market (2021.5.3–2021.5.9)

This week (2021.5.3–2021.5.9), PE Weekly covers Fundraising and policy news on PE market.

Fundraising

China’s CICC Capital Joins Hands with SAIC Motor to Set up $1.5 Billion Fund in Suzhou

6 April 2021 — — CICC Capital, one of China’s leading investment banking firms, has joined hands with SAIC Motor Co., Ltd and a Suzhou government-backed investment company to launch a CNY 10 billion ($1.5 billion) fund, targeting CNY 5 billion ($777 million) in the first close. The new vehicle mainly invests in premium projects in high-end equipment, smart manufacturing, smart connectivity, semiconductor, AI and other automobile industrial chain related industries. Read more…

China’s Gemdale Commits $15 Million to Healthcare Fund

6 April 2021 — — Gemdale Group, a listed Chinese real estate developer, announced the commitment from one of its subsidiaries to a fund at CNY 100 million ($15.3 million). The fund mainly invests in China’s healthcare industries including biomedicine, medical equipment, medical diagnosis, and medical services. Read more…

China’s Zoomlion Co-Launches $15 Million Private Fund Management Company

6 April 2021 — — Zoomline Heavy Industry Science & Technology Co., Ltd, a Chinese manufacturer of major high-tech equipment, commit CNY 20 million ($3.1 million) to set up a private fund management company with a registered capital of CNY 100 million ($15.3 million) as the second largest shareholder among other partners. The company focuses on business related to private equity investment fund management and venture investment fund management. Read more…

China’s Autobio to Set up Fund for IVD Projects

6 April 2021 — — Autobio, a Henan-based biomedicine company, has announced to set up an industrial fund for angel and venture investment in in vitro diagnostic products projects. Read more…

Policy

Beijing Expands Investment Areas for QFLP with New Policies

6 April 2021 — — Beijing rolled out a series of measures to expand areas for QFLP to invest in Chinese market. Chinese RMB in cross-border investment, for the first time, is now included into QFLP pilot project. Fund to be invested by QFLP now is allowed to adopt more flexible structure with minimum scale of CNY 100 million ($15.3 million). The scope of investment has been further expanded. Pilot funds can invest in preferred stocks, debt-to-equity swaps, convertible bonds, mezzanine capital, private debt, non-performing assets, and domestic private investment funds, etc. Read more…

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