PE and VC firms bank on China
Print Edition
FUNDS raised by China-focused private equity and venture capital firms surged above 120 percent last month despite the weeklong Spring Festival holiday, an industry report said yesterday.
Twenty PE and VC funds raised an aggregated US$3.7 billion in February, a 122.5 percent jump from a year earlier, according to a report released by the Beijing-based Zero2IPO Research.
The proceeds raised soared 209 percent from a month earlier, according to the data. Nineteen yuan-denominated funds accounted for 79 percent of the total proceeds raised.
Infrastructure funds raised US$1.63 billion, or 44 percent of the total, followed by growth funds with US$1.46 billion and real estate funds with US$387 million, according to the report.
There were nine newly-established PE/VC funds in February, the report said, adding that they plan to raise a combined US$6.9 billion.
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