Other Financial Services
First high-tech US$14M VC fund launched in Qingdao City
2009-11-09
Qingdao Yongwan High-Tech VC Fund, the first high-tech VC fund in Qingdao City, was established with an initial funding of USD 14 million. The fund will aim for investment in small- and medium-size high-tech enterprises engaged in the new energy, new material, new technology, as well as TMT and biopharmaceutical industries. In addition, the Weifang VC fund, established by Qingdao Yongwan High – Tech VC Fund and Weifang Binhai Development Zone government, has entered into the fund-raising stage and will start operating in November.
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China No.2 PC maker raising US$293M PE fund
2009-10-30
China's No. 2 PC maker, Founder Group, is raising a 2 billion Yuan (US$293 million) private equity fund with a focus on technology, media and telecom sectors as it seeks new profit streams, sources said on Thursday. The fund would be denominated in the Yuan because major institutional investors, so-called "limited partners" in the private equity fund, include many domestic enterprises, said a person who is familiar with the plans. Founder Group also plans to inject some money, but the amounts were not disclosed.
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Shenzhen Co-power VC to pump RMB 20M in Beijing Herun Media
2009-10-27
Shenzhen Co-power Venture Capital Co., Ltd ("Co-power VC") and Beijing Herun Detang Media and Advertising Co., Ltd ("Herun Media") entered into a formal investment agreement, according to which Co-power VC shall make a total investment of RMB 20M in Herun Media. Recently, the capital injection of RMB 10M in the first phase has been completed, with 33% of the equity stake in Herun Media being owned by Co-power VC.
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Huangguoshu Secures RMB 130M VC to build the largest mineral water base in Asia
2009-10-23
Huasen Health International Group (HHI) and Milestone Capital (Milestone) officially entered into a financing agreement on Oct.16, according to which Milestone pumped RMB 130M in cash into HHI to jointly grow the brand of Huangguoshu drinking water. Tang Chenguang, chairman of HHI, noted that Huangguoshu Water Plant Phase II will have a capacity of 800,000 tons of mineral water and become the largest mineral water production base in Asia.
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Liaoning Province announces launch of first PE Fund
2009-10-22
The first domestic PE fund in Liaoning was launched in Shenyang on October 21, 2009. Initiated by China Jianyin Investment Securities (CJIS) through its Northeastern arm Shenyang Taide Jianhua Investment Management Company, the fund was mainly collected from SMEs in the Liaoning province, in the form of a limited partnership. The fund will target equity investments and project investments, as well as provide investment and management consultations, in accordance with the government development plan.
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GE Plans US$250M in health venture investing
2009-10-21
General Electric Co (GE.N) is rolling out a $250 million venture fund to buy stakes in small companies that are developing new healthcare technologies, the largest U.S. conglomerate's chief executive said on Wednesday. The move, which mirrors an approach the world's largest maker of jet engines and electricity producing turbines has taken in the energy industry, is intended to help boost GE's presence in the life sciences, information technology and diagnostic device segments of the healthcare industry.
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Chongqing International Trust plans to list next year
2009-10-21
Chongqing International Trust plans to submit listing application materials next year. Yukaifa (000514) announced that it funded RMB 120 million for the capital increase of Chongqing International Trust, subscribing for 30 million shares. Industry analysts said the enhanced capital and enlarged stock to reform the stock system is preparation for listing. When the listing is completed, many shareholders will receive a large amount of capital premium.
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China Gives VC Companies More Freedom
2009-10-14
China's securities watchdog has said venture capital (VC) companies under partnership could be allowed to become shareholders of listed companies, China Daily reported Wednesday. The China Securities Regulatory Commission (CSRC) said it would modify the regulations on measures for the administration of securities registration and clearing, which would enlarge the scope for investors. Under the new rule, companies under partnership could open trading accounts to sell shares on the open market.
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Softbank China VC, Fosun Pharm to invest in lab medical firm
2009-09-29
Hangzhou D.A. Medical Laboratory Company, a gene diagnosis tech developer and service provider located in China's southeastern Zhejiang Province, clinched an agreement to rope in Softbank China Venture Capital and Shanghai Fosun Pharmaceutical (Group) (SHSE: 600196) as strategic investors with CNY 100 million in capital. The two investors will own a 15 percent stake in the Hangzhou medical service firm respectively after the investment.
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VC investors pay more attention to Chinese culture industry
2009-09-29
Many Chinese and foreign venture capital firms participated in a latest culture industry investment forum held by Beijing-based Zero2IPO Group, days after the Chinese government issued a stimulus plan about the sector. According to the plan China will allow more private companies, individual investors, and foreign investors to enter its culture industry, and encourage culture business companies to go public.
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Beijing aiming at China's PE investment center
2009-09-29
Beijing is looking to take advantage of a variety of resources in an effort to build itself into China's private equity (PE) center. As its first step, Beijing plans to set up a RMB 10 billion private equity investment fund that will bankroll projects with great potential. Apart from the RMB 10 billion PE fund, three guidance funds will raise capital from other fund management firms, with one focusing on the high-tech sector, one targeting the environmental protection sector, and the remaining one eyeing the cultural sector. An aggregate of 44 PE and venture capital (VC) investment cases involving RMB 5.83 billion took place in Beijing in the first half of 2009, accounting for 23.91% and 83.31% of the total in the country, respectively.
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