China’s FountainVest Partners plans to raise $414m RMB Fund II for growth-stage deals

China’s FountainVest Partners plans to raise $414m RMB Fund II for growth-stage deals

Source: Eric Prouzet/Unsplash.

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.

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