Eastern Bell Capital has held the final close of its USD Fund II and RMB Fund VI, with a total commitments of more than RMB13 billion (USD2.0 billion), marking one of the largest fundraises among China based GPs in 2021.
The latest close takes Eastern Bell Capital’s total assets under management, including both its RMB and USD funds, to RMB27 billion (USD4.2 billion). USD Fund II and RMB Fund VI will continue to invest in similar themes as their predecessor funds, namely Industrial Internet and supply chain innovation in China, with two major investment focuses – industrial digitalisation and consumption upgrades, covering supply chain, consumer, enterprise services, data, and technology.
USD Fund II’s LP base includes global blue-chip sovereign wealth funds, pension funds, insurers, corporates, family offices and fund of funds. It has more than a 95 per cent re-up rate from the LPs in its predecessor fund, Eastern Bell USD Fund I.
Read more/Source: Private Equity Wire
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