DCP Capital, a private equity (PE) firm that has backed some of China’s biggest companies, including Ping An Insurance and Mengniu Dairy, has reportedly held the first closing of its second China fund at $2.5 billion.
With a total fundraising target of $3 billion, DCP Capital Partners II reached the first closing with capital commitments from both existing and new limited partners (LPs). The new fund has already completed five investments so far, online media outlet AVCJ reported earlier this week.
