China’s Orient Jiafu holds first close of Fund V at $110m, targets $157m

Photo by Josh Appel on Unsplash

Orient Jiafu Asset Management, an investment firm in China, has made the first close of its fifth fund at over 700 million yuan ($109.7 million) with a target to raise 1 billion yuan ($156.7 million) in total, the firm announced on Thursday.

Fund V attracted capital commitments from investors in Orient Jiafu’s previous four funds. Its key limited partners (LPs) include government-guided industry funds in eastern China’s Yangtze River Delta, Chinese state-owned capital, funds of funds (FOFs), and publicly listed companies, among others.

With nearly 15 billion yuan ($2.3 billion) in assets under management (AUM), Orient Jiafu will continue its focus on the intelligent manufacturing, new-generation IT, and healthcare industries.

The Hangzhou-headquartered firm was founded in 2016 as a subsidiary of Zhejiang Orient Financial Holdings Group, a state-owned financial services group listed on the Shanghai stock exchange. Orient Jiafu is involved in both equity investments in startups and secondary transactions into publicly listed companies.

Orient Jiafu has backed over 40 companies over the past five years. Four of its portfolio companies are listed on Shanghai’s Nasdaq-style STAR Market, two on Shenzhen’s ChiNext board, and one on the main board of the Shanghai stock exchange. Three of its investee firms were acquired by listed companies, while one is in the process of an initial public offering on the STAR Market, according to official statistics.

It is an investor of Hangzhou Arcvideo Technology, which provides intelligent video solutions, new energy materials maker Ronbay New Energy Technology, auto parts manufacturer Chervon Auto, artificial intelligence (AI) chip developer Cambricon Technologies, and quantum tech firm QuantumCTek.

Orient Jiafu has a research and investment team of about 40 people across offices in Hangzhou, Beijing, and Shanghai.

In June 2020, the firm held the first close of another private equity (PE) fund at over 600 million yuan ($94 million) to focus on investments in the digital economy sector.

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.