Related News
China raises US$8.1b in venture capital in first half
By Lydia Chen |
July 7, 2011, Thursday
|
Online Edition
Online Edition
CHINA'S venture capital market raised a record US$8.1 billion in new investments in the first half of this year, according to a research report by Zero2ipo Group.
The half-year performance, which represents a 19 percent rise from a year ago, means total funds to be raised for the whole year could exceed last year's US$11.17 billion, the investment research firm said today.
The record volume is partly attributed to fund-raising by 20 large private equity funds which scooped at least US$100 million each, the Beijing-based firm said.
During the period, the mainland saw the birth of 73 PE funds, 62 of them being yuan-denominated, indicating a continued preference among investors to choose the Chinese currency as the main investment vehicle in China.
These yuan funds raised nearly US$4.7 billion in the first six months, outshining the US$3.44 billion total raised by dollar-denominated funds during the same period, the report said.
Investors prefer yuan-denominated funds mainly because ChiNext, a Nasdaq-style board launched in 2009 in Shenzhen, now provides a new way for PE firms to cash in on their investments by listing the companies they financed on the stock market.
Dollar-denominated PE funds, whose limited partners are usually foreign investors, often choose to have their invested firms listed in overseas stock markets, which offer a lower price-to-earning rate for new listings than ChiNext.
Meanwhile, mainland PE firms bet their money on 605 projects from January to June, a hike of 56.3 percent from a year ago. Among them, 538 have published their financial reports, involving a total investment of US$6.07 billion, up 170.4 percent from a year ago, the report said.
Most of the money, US$1.55 billion, went into 110 projects in IT industry. Automobile industry took the second place with US$497.7 million, followed by clean technology with US$382 million, the report added.
Shanghai ranked second after Beijing in terms of investment scale, totaling US$868.3 million in the first six months, followed by Jiangsu Province and Shenzhen City.
The half-year performance, which represents a 19 percent rise from a year ago, means total funds to be raised for the whole year could exceed last year's US$11.17 billion, the investment research firm said today.
The record volume is partly attributed to fund-raising by 20 large private equity funds which scooped at least US$100 million each, the Beijing-based firm said.
During the period, the mainland saw the birth of 73 PE funds, 62 of them being yuan-denominated, indicating a continued preference among investors to choose the Chinese currency as the main investment vehicle in China.
These yuan funds raised nearly US$4.7 billion in the first six months, outshining the US$3.44 billion total raised by dollar-denominated funds during the same period, the report said.
Investors prefer yuan-denominated funds mainly because ChiNext, a Nasdaq-style board launched in 2009 in Shenzhen, now provides a new way for PE firms to cash in on their investments by listing the companies they financed on the stock market.
Dollar-denominated PE funds, whose limited partners are usually foreign investors, often choose to have their invested firms listed in overseas stock markets, which offer a lower price-to-earning rate for new listings than ChiNext.
Meanwhile, mainland PE firms bet their money on 605 projects from January to June, a hike of 56.3 percent from a year ago. Among them, 538 have published their financial reports, involving a total investment of US$6.07 billion, up 170.4 percent from a year ago, the report said.
Most of the money, US$1.55 billion, went into 110 projects in IT industry. Automobile industry took the second place with US$497.7 million, followed by clean technology with US$382 million, the report added.
Shanghai ranked second after Beijing in terms of investment scale, totaling US$868.3 million in the first six months, followed by Jiangsu Province and Shenzhen City.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
