IFC to invest $25m in China-focused SBCVC’s $475 m fresh fund

IFC website.

The International Finance Corporation (IFC) is likely to make an equity investment of up to $25 million in a new fund, SBCVC Fund V, L.P., which will invest in equity and equity-linked instruments of fast-growing mid-market technology companies in China.

SBCVC, or SB China Capital, is a venture capital and private equity firm set up in 2000. It targets investments in high-tech, high growth ompanies in TMT, clean technology, healthcare, consumer/retail, and advanced manufacturing sectors; across all stages of growth. 

SBCVC Fund V has a target fund size of $400 million with a hard cap of $475 million. 

SBCVC has invested in over 100 companies across China since 2000, most of which became regional and global brands.

“In the current fund, IFC will be supporting around 40 promising Chinese companies to grow and gain access to international capital markets,” IFC said, in a its investment disclosure.

The global development institution said it will invest primarily through one or more subsidiaries formed in the Republic of Singapore (or Hong Kong) and People’s Republic of China.

“The manager, SBCVC Holdings Limited, is based out of British Virgin Islands, the adviser is based out of the Republic of Singapore (or Hong Kong) and the consulting company has offices in Shanghai, Beijing, Suzhou, Shenzen, Tianjin, Chongqing / Chengdu, Xi’an, Hangzhou, Ningbo, Yinchuan, Taiwan in China,” the announcement read.

SBCVC Management V, L.P. is the sole general partner of the fund and will exercise control and supervision over its operations.

The general partner of the General Partner is an entity controlled by Chauncey Shey, Dr. Peter Hua, Dr Alan Song, Tim Liu and Kathy Chen.

SBCVC Fund V, a Cayman limited partnership, is the successor to these funds – the 2000 vintage $100 million SB China Holding Pte. Ltd. (Fund I); the 2006 vintage $151.6 million SBCVC Fund II, L.P. (Fund II); SBCVC Fund II-Annex L.P., a $43 million 2006 vintage co-investment vehicle for Fund II; SBCVC Fund III, L.P. (Fund III), a $320.4 million 2008 vintage fund, and SBCVC Fund IV, L.P. (Fund IV), a $386.7 million 2011 vintage fund.

Among other impact that are expected from this investment are the support of innovation and technology, as SBCVC invests in early and growth stage technology firms, supporting and empowering entrepreneurs and innovation.

IFC’s commitment will also provide necessary risk capital for asset light businesses such as technology firms, for which access to long term equity capital is difficult.

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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.