Chinese private equity (PE) firm FountainVest Partners is targeting to raise 3 billion yuan ($413.9 million) for its second RMB-denominated fund, the firm disclosed in a statement on Tuesday.
The new fund will add to FountainVest’s existing portfolio of four US dollar funds and one Chinese yuan fund. The fund will mainly invest in growth-stage opportunities in China across the industries of advanced manufacturing, healthcare, and consumption, among others.
