China’s Yingke hits final close of latest RMB fund at $286m

Shanghai

Chinese private equity firm Yingke Private Equity announced the closing of an RMB-denominated fund with a corpus of 2 billion yuan ($286 million).

Yingke said the capital has been raised from a slew of financial organizations and insurance groups even as it did not disclose the names of limited partners (LPs).

Founded in 2010 in Shanghai, Yingke is an asset management firm, which is active in pre-IPO investment space.

Its cornerstone investors include four listed companies, which are contract research organization Tigermed, fluorine chemical provider Zhejiang Yongtai Technology, flavor and fragrance business player Shanghai Bairun Investment Holding Group, and pharmaceutical equipment supplier Shanghai Tofflon Science and Technology.

Yingke primarily provides financial support across five sectors, spanning biomedicine, energy-saving and environmental protection, new energy, new consumption, and smart manufacturing.

Yingke has so far invested in 200 companies such as innovative drug maker Denovo Biopharma, in-vitro diagnostic solutions developer Weifang Kanghua Biotech and Anlong.

The PE firm claims that it has 40 billion yuan ($5.7 billion) in assets under management as of 2019, and expects to reach 100 billion yuan ($14 billion) by 2022.

A handful of investors have of late closed their RMB funds. Hangzhou Orient Jiafu Asset Management reached the first closing of a PE fund at over 600 million yuan ($86 million) in June, while Addor Capital raised 707 million yuan ($101 million) for its sub-funds.

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.