China’s Dah Chong Hong, CITIC team up for $80m healthcare, consumer fund

Stethoscope lying on medical records.

Dah Chong Hong Holdings, a motor and consumer products distribution company in Greater China, has joined forces with Chinese conglomerate CITIC Limited to launch a $80-million fund to invest in the consumer and healthcare sectors.

Dah Chong Hong will participate as a limited partner (LP) and make a capital commitment of $35 million to the Tamar Alliance Fund. CITIC Pacific, a CITIC Ltd wholly-owned subsidiary which is also the parent company of Dah Chong Hong, will also contribute the same amount, while the holding company of the general partner, Tamar Alliance GP 1 Limited, will invest another $10 million.

The fund said it will seek out more LPs to contribute to the total commitments.

Under the agreement, Dah Chong Hong and the general partner, both indirect subsidiaries of CITIC Limited, will provide the fund with further financing of up to $5 million on a 50:50 basis to meet the funding requirements.

“The Asian market for consumer goods and healthcare products is large and growing rapidly, driven by rising demand from an increasingly affluent middle class across Greater China and Southeast Asia. It is also at the beginning of a long and rich development path,” Dah Chong Hong said in an announcement.

The establishment of the Tamar Alliance Fund, it added, will open up new revenue streams and opportunities for the company, as it enables Dah Chong Hong to capture investment returns from target companies.

Meanwhile, investee companies will gain access to the firm’s market knowledge and expertise, especially when they choose Dah Chong Hong as their distribution partner.

Also Read:

China: Primavera, CITIC PE to raise dollar funds totalling $5b

China’s CITIC plans $874m educational-focused investment buyout funds

CITIC Capital hits final close of China-focused fund at $1.57b

China: Sanpower, CITIC Bank mull $2.9b healthcare M&A fund

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.