<article><a href="https://www.dealstreetasia.com/?s=China%20Renaissance Group">China Renaissance Group</a>, an investment bank led by one of China&#8217;s most famed rainmakers Fan Bao, is raising $600 million for a new fund under its <a href="https://www.dealstreetasia.com/?s=Huaxing%20Growth Capital">Huaxing Growth Capital</a> arm.</article>

<a href="https://www.dealstreetasia.com/?s=China%20Renaissance Group">China Renaissance Group</a>, an investment bank led by one of China&#8217;s most famed rainmakers Fan Bao, is raising $600 million for a new fund under its <a href="https://www.dealstreetasia.com/?s=Huaxing%20Growth Capital">Huaxing Growth Capital</a> arm.
Huaxing Growth Capital, which runs several funds in both yuan and dollar currencies, has informed the US Securities and Exchange Commission of its plan to raise $600 million for VC fund <a href="https://www.dealstreetasia.com/?s=Huaxing%20Growth Capital III">Huaxing Growth Capital III</a>.
The planned fundraising comes after the firm successfully closed its latest investment fund, which secured over Rmb4 billion ($586 million).
Huaxing Growth Capital pursues a thematic investment approach to find companies with business models that will benefit from long-term trends in technology innovation, industry transformation, and an upgrade to consumption patterns and lifestyle amenities in China.
On its Market Review and Business Update released in April, Huaxing Growth Capital said it plans to make larger initial investments and take a more active role in developing portfolio companies this year.
&#8220;We believe our strategy is uniquely suited to capitalize on the rapid disruption in consumer and B2B verticals, internet ecosystems oriented around China&#8217;s largest tech firms, and the vast scale at which innovations come to market,&#8221; the firm said.
Last year, the firm completed 25 investments worth $350 million, established 17 investments in new companies, and made eight follow-on investments in existing portfolio companies. It also made seven full or partial exits through secondary sales.
Its new investments included the AI platform firm SenseTime, big data enterprise software developer MiningLamp Software, and the electric vehicle maker NIO.
“Several areas appear ripe for investments in the year ahead. Following our thematic investment strategy, we see strong investment opportunities in consumer services, traditional industries with low internet penetration rates and enterprise services,” Huaxing Growth Capital said.
The firm has evolved to a scale where it expects to make larger investments than in the past, in the range of $20 million to $70 million, often with an accompanying board seat, and to lead or co-lead a majority of the deals in which it participates.
China Renaissance Group, Huaxing&#8217;s parent firm, seeks to raise as much as $800 million in a Hong Kong IPO, targeting a valuation of between $4 billion and $5 billion, according to a Reuters report in June.
Founded in 2005, China Renaissance started as a two-person team, seeking to match up capital-hungry startups with eager venture capitalist and private equity investors.
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China Renaissance Group, investment bank led by one of China’s most famed rainmakers Fan Bao, is raising $600 million for new fund under Huaxing Growth Capital arm.

Huaxing Growth Capital targets raising $600m for latest fund

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Huaxing Growth Capital targets raising $600m for latest fund

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