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PE Weekly | News and Events in Chinese PE Market (2021.6.21-2021.6.27)

FOF Weekly Updated June 27, 2021


This week (2021.6.21-2021.6.27), PE Weekly covers fundraising and policy news on PE market.

Fundraising

China Coal Group’s Subsidiary to Commit $155 Million to Goldstone FOF

25 June 2021----China National Coal Group (abbreviation as China Coal Group), a key state-owned enterprise, announced the commitment from its subsidiary China Coal Pingshuo Group to Goldstone FOF. The company commits CNY 1 billion ($154.8 million) as one of the LPs together with other institutional investors and companies specialized in coal industry. The fund aims to invest in fields such as coal, thermal-electricity, new energy, biomedicine, culture and tourism, equipment manufacturing, and new-generation IT through its sub-funds. Read more…

Beijing Sets up $155 Million Fund for Green Development

24 June 2021----Beijing Guoshu Industrial Development Fund, backed by local government and start-owned companies, has paired up with Yongding River Investment Co., Ltd as well as its subsidiary to set up a CNY $1 billion ($154.8 million) fund to invest in emerging premium projects centering around ecosystem restoration and green development along the Yongding River. Read more…

Yealink Network to Set up $77.4 Million Fund

23 June 2021----China-based Yealink, a global leading video conference service provider, announced the partnership with Xiamen Kai Tai Billion Alliance Investment Management Co., Ltd, Lu Rongfu, the deputy general manager of the company, and other institutional investors to launch a CNY 500 million ($77.4 million) fund, to which the Yealink commits no more than CNY 125 million ($19.3 million). The new vehicle will invest in fields such as cloud service, cloud technology, big data, AI, and smart hardware. Read more…

Tianjin Welcomes $3.1 Billion Fund Backed by Government

22 June 2021----State-owned Asset Supervision and Administration Commission of Tianjin People’s Government has approved to set up a CNY 20 billion ($3.1 billion) fund for facilitating the development of local state-owned enterprises. The fund has completed the first closing at CNY 5 billion ($774.4 million). Read more…

China’s Gaorong Capital to Manage $774 Million Fund for Emerging Industries in Nanjing

21 June 2021----Gaorong Capital, a Chinese venture capital firm that focuses on early and growth stage investments, has reached agreement with Jiangbei New Area of Nanjing to launch a fund for emerging industries of strategic importance. The scale for the fund and its parallel funds is estimated to be CNY 5 billion ($774.4 million). With Gaorong Capital as the manager, the new vehicle eyes on the investments in new technologies, new consumption, enterprise services, and healthcare. Read more…

Shanghai Sets up $4.6 Billion Asset Allocator Fund

21 June 2021----China (Shanghai) Pilot Free Trade Zone Lin-Gang Special Area Administration has teamed up with DHLT Investment Management Co., Ltd to launch an asset allocator fund in a bid to promote real economy through financial capital. The new vehicle, with the target scale of CNY 30 billion ($4.6 billion) in the first close, will mainly invest in fields such as integrated circuit, biomedicine, high-end manufacturing, and AI through equity investment. Read more…

China’s Nanjing Estun Automation to Co-Launch $155 Million Fund

21 June 2021----Nanjing Estun Automation Company, a China-based leading manufacturer of industrial automation products, announced the partnership with institutional investors and government-backed funds to launch an industrial fund with the target scale of CNY 1 billion ($154.8 million). The new vehicle plans to secure CNY 414 million ($64.1 million) in the first close and will focus on the investments in smart manufacturing and related industries. Read more…

Policy

Wuhan Rule Set Changes to Boost Local Financial Market

25 June 2021----Wuhan rolled out a series of favoring policy for promoting the development of local financial market. Among them are the reward up to CNY 30 million ($4.6 million) for new launched or resettled private equity funds and subsidy support for financial institutions. Read more…

Beijing Voices out Support for Secondary Fund

25 June 2021----Beijing has issued Suggestions on Promoting Equity Investment and Pilot Share Transfer of Venture Capital, which shows the city’s confidence and support for secondary fund. The Suggestion encourages foreign investors to set up secondary fund and participate in share transfer of secondary fund through rewards and policy support. Read more…


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PE Weekly | News and Events in Chinese PE Market (2021.7.19-2021.7.25)
How to Exit Venture Capital Investments Successfully
PE Weekly | News and Events in Chinese PE Market (2021.7.12-2021.7.18)
REGISTER NOW !
CHINA-BASED
GLOBAL PLATFORM
FOR GPs & LPs
E-mail adress
Password
l read and agree to
Terms&Conditions
Create a new account Sign up!
Forget Password
CHINA-BASED
GLOBAL PLATFORM
FOR GPs & LPs
Name
Surname
E-mail address
Password
Confirm password
l read and agree to
Terms&Conditions
Already have an account? Sign in!
Please go to the mailbox to approve the registration
CHINA-BASED
GLOBAL PLATFORM
FOR GPs & LPs
FOF WEEKLY Account terms of service
1. Members registered in this website must abide by the provisions on the administration of Internet electronic announcement service, and shall not publish information such as defamation of others, invasion of others' privacy, infringement of others' intellectual property rights, spread of viruses, political speech, commercial information, etc.
2, in all the articles published in the site, the site has the final right to edit, and reserve the right to print or publish to a third party, if your information is not complete, we will have the right to use your work published in the site without any notice.
3. During the registration process, you will choose the registration name and password. The choice of registration name shall comply with laws, regulations and social ethics. You must keep your password confidential and you will be responsible for all activities that take place under your registered name and password.
Already have an account? Sign in!
E-mail adress

PE Weekly | News and Events in Chinese PE Market (2021.6.21-2021.6.27)

FOF Weekly Updated June 27, 2021


This week (2021.6.21-2021.6.27), PE Weekly covers fundraising and policy news on PE market.

Fundraising

China Coal Group’s Subsidiary to Commit $155 Million to Goldstone FOF

25 June 2021----China National Coal Group (abbreviation as China Coal Group), a key state-owned enterprise, announced the commitment from its subsidiary China Coal Pingshuo Group to Goldstone FOF. The company commits CNY 1 billion ($154.8 million) as one of the LPs together with other institutional investors and companies specialized in coal industry. The fund aims to invest in fields such as coal, thermal-electricity, new energy, biomedicine, culture and tourism, equipment manufacturing, and new-generation IT through its sub-funds. Read more…

Beijing Sets up $155 Million Fund for Green Development

24 June 2021----Beijing Guoshu Industrial Development Fund, backed by local government and start-owned companies, has paired up with Yongding River Investment Co., Ltd as well as its subsidiary to set up a CNY $1 billion ($154.8 million) fund to invest in emerging premium projects centering around ecosystem restoration and green development along the Yongding River. Read more…

Yealink Network to Set up $77.4 Million Fund

23 June 2021----China-based Yealink, a global leading video conference service provider, announced the partnership with Xiamen Kai Tai Billion Alliance Investment Management Co., Ltd, Lu Rongfu, the deputy general manager of the company, and other institutional investors to launch a CNY 500 million ($77.4 million) fund, to which the Yealink commits no more than CNY 125 million ($19.3 million). The new vehicle will invest in fields such as cloud service, cloud technology, big data, AI, and smart hardware. Read more…

Tianjin Welcomes $3.1 Billion Fund Backed by Government

22 June 2021----State-owned Asset Supervision and Administration Commission of Tianjin People’s Government has approved to set up a CNY 20 billion ($3.1 billion) fund for facilitating the development of local state-owned enterprises. The fund has completed the first closing at CNY 5 billion ($774.4 million). Read more…

China’s Gaorong Capital to Manage $774 Million Fund for Emerging Industries in Nanjing

21 June 2021----Gaorong Capital, a Chinese venture capital firm that focuses on early and growth stage investments, has reached agreement with Jiangbei New Area of Nanjing to launch a fund for emerging industries of strategic importance. The scale for the fund and its parallel funds is estimated to be CNY 5 billion ($774.4 million). With Gaorong Capital as the manager, the new vehicle eyes on the investments in new technologies, new consumption, enterprise services, and healthcare. Read more…

Shanghai Sets up $4.6 Billion Asset Allocator Fund

21 June 2021----China (Shanghai) Pilot Free Trade Zone Lin-Gang Special Area Administration has teamed up with DHLT Investment Management Co., Ltd to launch an asset allocator fund in a bid to promote real economy through financial capital. The new vehicle, with the target scale of CNY 30 billion ($4.6 billion) in the first close, will mainly invest in fields such as integrated circuit, biomedicine, high-end manufacturing, and AI through equity investment. Read more…

China’s Nanjing Estun Automation to Co-Launch $155 Million Fund

21 June 2021----Nanjing Estun Automation Company, a China-based leading manufacturer of industrial automation products, announced the partnership with institutional investors and government-backed funds to launch an industrial fund with the target scale of CNY 1 billion ($154.8 million). The new vehicle plans to secure CNY 414 million ($64.1 million) in the first close and will focus on the investments in smart manufacturing and related industries. Read more…

Policy

Wuhan Rule Set Changes to Boost Local Financial Market

25 June 2021----Wuhan rolled out a series of favoring policy for promoting the development of local financial market. Among them are the reward up to CNY 30 million ($4.6 million) for new launched or resettled private equity funds and subsidy support for financial institutions. Read more…

Beijing Voices out Support for Secondary Fund

25 June 2021----Beijing has issued Suggestions on Promoting Equity Investment and Pilot Share Transfer of Venture Capital, which shows the city’s confidence and support for secondary fund. The Suggestion encourages foreign investors to set up secondary fund and participate in share transfer of secondary fund through rewards and policy support. Read more…