Beijing-based financial giant China Renaissance has announced the close of its Growth Capital USD Fund III in press releases dated September 14, 2020. The financial institution claimed it had raised more than US$600 million investment for the fund.
Investors that have committed to investing capital in the fund are based across Europe, Asia, and the Middle East and are of different entities such as sovereign wealth funds, commercial banks, fund of funds, family offices and individual investors as well.
The magnitude of the fund is enough to allow a single investment to range up to US$50 million the statement noted.
“Our world-class information system and in-depth industry research capabilities are the foundation of our successful investment management business,” China Renaissance CEO and Huaxing Growth Capital Founding Partner Fan Bao said in the statement.
“Over the past seven years, China Renaissance has invested in over 100 New Economy entrepreneurs and home-grown champions, and helped more than 30 of these companies go public in China and international markets. China’s structural changes continue to create significant new investment opportunities,” he further added.