China’s CreditEase launches second Israel-focussed fund, hits first close at $32.2m

Chinese Yuan bank notes. Photo: Bloomberg

CreditEase Wealth Management on Friday said it has raised $32.2 million in one month for its second fund focused on Israeli technology and plans to reach a total capital commitment of $50 million.

Its first fund, CreditEase Israel Innovation Fund I, closed in October 2015, raising $30 million.

“CreditEase Wealth Management is the first Chinese financial-services firm to establish a local office in Israel,” said Tayman Kan, managing partner of CEIIF.

“With China’s economy transforming from traditional labour-intensive manufacturing to a service-driven model, we continue to see more and more Chinese investors diversifying their investments across regions and asset classes.”

The first fund made eight investments in early and later-stage start-ups, including Corephotonics, a maker of dual camera technologies for smartphones.

The second fund will invest in virtual and augmented reality, artificial intelligence and machine learning, digital healthcare, the Internet of Things, cloud and data storage and advanced manufacturing.

CreditEase Wealth Management offers global asset allocation services for the wealthy and middle class in China.

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Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.