PE firms keen to fund Chinese startups
Print Edition
INVESTORS from overseas are keen to finance Chinese startups as funds raised by private equity firms in China’s mainland surged to a six-year high last year, an industry report said today.
Last year, 448 mainland-focused PE funds raised US$63.1 billion, a surge of 83 percent year on year, Beijing-based Zero2IPO Research Center said in a report. The funds raised in 2014 were the most since 2008.
“There was an influx of government-backed industry funds due to favorable polices,” said Miao Chunwang, researcher at Zero2IPO. “Overseas capital also flocked in after the government relaxed curbs on foreign investment.”
Growth enterprises grabbed the lion’s share of the newly-raised funds at 61.2 percent while 16.5 percent were channelled to the property sector and 10.5 percent went toward mergers and acquisitions, according to the report.
Yuan-denominated funds raised a combined US$48.3 billion, or 76.5 percent of the total. Foreign currency-denominated funds raised US$14.8 billion.
Last year, PE firms sealed 943 investment deals, up 42.9 percent from a year earlier, totaling US$53.8 billion, an 119.6 percent surge year on year, the report showed.
“The mixed-ownership reform of state-owned enterprises, a sizzling M&A market and more investments in biomedical and mobile Internet were among the main drivers of a booming market last year,” researcher Miao pointed out.
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