Foreign investors provide PE fund boost
Print Edition
Private equity and venture capital firms raised more funds for investment in China last month, driven by 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 in the report yesterday.
Of the 10 funds, four are yuan-denominated that only raised a combined US$131 million, compared with US$1.53 billion, or 92 percent of the total, raised by six US dollar-denominated funds.
“China has become a major market for foreign funds as PE/VC activity here has been warming up since the fourth quarter of 2013 after going through a significant downturn,” Ma Li, analyst with Zero2IPO, 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, cultural industry and the Internet.
Meanwhile, nine new funds were set up in February — six yuan-denominated and three US dollar-denominated funds, according to the report.
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