Nanjing, August 29, 2009 – Tembusu Partners and Nanjing Venture Capital will officially launch the joint venture fund management company He Ding Investment to manage the Nanjing Growth Fund. The Vice Mayor of Nanjing Government Shen Jian will be issuing the license to He Ding Investment.
While the world is still facing uncertainties in its economic recovery, China is a certain destination for international private equity companies. Joining the league of Blackstone, First Eastern and CLSA, Tembusu Partners is the first Singapore-based private equity firm establishing investment companies in Jiangsu, China.
Tembusu Partners has been an active investor in China for the past three years. Setting up He Ding Investment with Nanjing Venture Capital will bring Tembusu Partners a step closer to its ambition to raise and manage a Renminbi fund. The establishment of Nanjing He Ding Investment will fulfill a break-through co-operative between Nanjing and private companies. This international fund management not only brings confidence to the management and model, it also opens the global market of investments.
The Nanjing Growth Fund is targeting US$ 80m and a half has been raised within China as a Renminbi fund sponsored by the Nanjing Government and institutional investors in Nanjing, Jiangsu. The whole idea is to propose a model of "Professional Fund & Professional Management". The main investment targets raw materials, solar energy, telco, life-science, eco-environmental and other high-end technological businesses.
By tying up with the Chinese partner Nanjing Venture Capital, Tembusu Partners hopes to gain an advantage in securing deals in China. So far, foreign private equity firms have been frustrated by the relative lack of good quality transactions flowing in a country where economic prospects are so seductive. As such, Tembusu Partners is the 1st corporation to be working with Chinese authorizes licensed in said investment project.
He Ding will be focusing on investing in high growth companies in China, particularly in Nanjing, Jiangsu and Yangtze Delta Area. Meanwhile, He Ding is expected to close its first investment in the TMT sector in the coming weeks.
About Tembusu Partners
Tembusu Partners is a private equity investment firm investing in growth-stage companies and generating optimal returns for both investee companies and investors. Headquartered in Singapore, our primary geographical markets are within Emerging Asia, comprising China, India and Southeast Asia. For more information visit: www.tembusupartners.com |
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