China-focused PE and VC funds raise US$1.67b

By Ye Zhen | March 4, 2014, Tuesday |

Online Edition

Private equity and venture capital firms raised more funds for investment in China last month, driven by a strong appetite among foreign investors, according to a private industry report.

Ten China-focused PE/VC funds raised US$1.67 billion in February, a surge of 257 percent from a year earlier, the Zero2IPO Research Center said today.

Of the 10 funds, four are yuan denominated and raised a combined US$131 million. The six US-dollar funds raised US$1.53 billion, or 92 percent of the total.

“China has become a major market for foreign funds as VC/PE activity here has been warming up since the fourth quarter of 2013 after going through a significant downturn,” Ma Li, a Zero2IPO analyst, said in the report.

Newly raised funds represented a 61.6 percent decline month on month due to the impact of the Lunar New Year holiday, the report said.

Most of the new funds will go to sectors including clean technology, culture and the Internet.

Meanwhile, nine new funds were set up in February, including six yuan-denominated funds and three dollar-denominated funds. Eight funds plan to raise a combined US$2 billion. The other fund has not released its target, said the report.

Business Finance

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China-focused PE and VC funds raise US$1.67b

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