HONG KONG – (ACN Newswire) – Everbright Haiyin Fund (“The Fund”), a fund co-initiated and managed by China Everbright Limited (“Everbright”, stock code: 165.HK) and Haiyin Capital, has completed its first round of fundraising on 17 August, 2018. The Fund has currently raised RMB500 million, with a target size of RMB1.05 billion.
The Fund is a RMB fund invested in high-tech sector, which focuses on the field of new energy, medical health, artificial intelligence, robotics, new materials, science and technology finance, computer and electronics, aerospace and other innovative technology with complete patent protection, molding products business. At present, the Fund has a number of quality high-tech project reserves.
Everbright was Haiyin Capital’s largest LP with long-term partnership
Everbright and Haiyin Capital has started its long-term partnership since 3 years ago. Being confident in the investment of high technology in U.S., as well as the professionalism of Haiyin Capital, Evebright has invested in its US-dollar fund portfolio since 2015 and became its largest LP, with the right to co-invest with the fund. Both sides have jointly invested in more than a dozen high-quality U.S. high-tech projects in early stages, ranging from medical health, new energy, financial technology, aerospace and robotics.
Based on a good basis of co-operation, both sides have reached an agreement of establishing the Everbright Haiyin Fund and appointed their respective professional teams for joint management. The management team possesses extensive experiences in the industry, as well as equity investment and business operation background.
Joint force of respective strength to build high-tech industry fund
Everbright established in Hong Kong in 1997, is the leading cross-border investment and asset management company in China. It manages private equity funds, venture capital funds, sector focus funds, mezzanine funds, fund of funds, fixed income and equity funds. After 21 years of development and with more than 200 investment professionals, Everbright has rich experience in management and operation of investment funds, and equipped with strong cross-border asset management capabilities.
Haiyin Capital, founded in 2008, is a venture capital organization specializing in overseas high-tech and TMT industry. In the past decade of overseas cultivation, Haiyin Capital has accumulated a wealth of project reserves through numerous US dollar funds. For instance, “WiTricity” wireless charging technology, has achieved mass production in BMW; “Terrafugia”, the world’s first flying car receiving both flight license and road license, has been fully acquired by Geely and is expected to begin selling mass-produced vehicles in 2019; “Hanson Robotics”, the first Sofitel robot granted with Saudi Arabia citizenship, was produced by the world’s best facial expression robot company, etc.
The Fund combines the advantages of both Everbright and Haiyin Capital. With Haiyin Capital’s global high-technology projects as a basis, and Everbright’s strong capability in industry investment as a backup, the fund integrates the global high-technology with the Chinese market, promoting the integration of the influential and innovative technology with the leading enterprises in China.
In the meantime, the Fund is also well-positioned in the Chinese capital market. Through strategic co-operation, it supports the listed companies to acquire high-tech assets to achieve growth extension, as well as attaining the upgrade of “PE+ Industrial M&A” through securitization exit.
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