DEG commits to invest $20m in China-focused HIKE Capital Fund III

US dollar notes. Photo: Hemant Mishra/Mint

DEG, the investment arm of German state-owned development bank KFW, has committed to invest $20 million in a private equity investment vehicle managed by HIKE Capital, according to a disclosure.

HIKE Capital is an independent firm set up in 2015 by a team of seasoned entrepreneurs.

The vehicle – HIKE Capital Fund III, L.P- is a private equity fund targeting early- to late-stage growth investments in China. The fund is looking to invest in the consumer and transportation sector as well as in enterprise services.

The DEG investment is expected to support China’s goal of closing the development gap between highly developed cities on the East Coast and less developed cities in Western China whilst addressing environmental targets.

DEG, which has been actively investing in China since 1985, is stepping up focus on the manufacturing industry, particularly in the area of modernisation and energy efficiency of enterprises.

In February last year, DEG proposed a 30-million euros ($36 million) financing to Jointown Pharmaceutical Group, China’s largest private and fourth-largest pharmaceutical distributor.

Nepal investment 

DEG has also committed a $20-million loan to NMB Bank Ltd, the 7th largest commercial bank in Nepal, according to a disclosure.

The fund will be used to support NMB’s SME and micro clients (MSME) who have been affected by Covid-19.

NMB operates in the MSME, corporate, retail, agriculture and microfinance segments and is among the top lenders in the hydro project financing space.

In 2020, NMB Bank received up to a $25-million loan from the International Finance Corporation, a member of the World Bank Group.

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.