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CITIC Capital completes 1st fundraising for US$150-mln fund

Feb. 24, 2012 (China Knowledge) - CITIC Capital Holdings Ltd yesterday announced the completion of its first round of fundraising of US$60 million for its venture and growth fund CITIC Capital Venture Partners L.P., or CCVP, which targets a size of US$150 million.

Anchor investors for the initial fundraising included Vertex Asia Growth Ltd, a wholly-owned subsidiary of Temasek Holdings, and the Singapore-based Enspire Capital.

CCVP will focus on Chinese high-growth, small-and-medium sized enterprises in three sectors, consisting of clean technology, consumer and IT & new emerging, in which SMEs can compete effectively with fast growth.

Zhang Yichen, CEO of CITIC Capital, said the launch of the fund marks a significant milestone for the firm's alternative investment opportunities.

Founded in 2002, CITIC Capital principally invests in private equity, real estate, structured investment & finance, asset management and venture & growth with management funds totaling US$4.6 billion.

CITIC Capital is owned by China's sovereign wealth fund China Investment Corp, CITIC International Financial Holdings Ltd and CITIC Pacific Ltd<0267>.

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