France-based private equity fund IdInvest Partners launched a programme today that will aim to raise up to €1bn ($1.1bn) from Chinese firms that will be invested in Europe-based businesses.
The Chance investment platform will seek to help European small and medium-sized businesses grow by linking them with partners who can provide financing, in return for minority stakes, as well as access to the Chinese market.
The firm aims to raise €300m for the platform by the end of 2015, and eventually grow it to €1bn in size.
Chance’s funding priorities will be businesses operating in the health and safety, green technology, smart cities, digital technologies, agribusiness and fintech sectors. IdInvest will coordinate the investments and choose the European companies that receive capital.
IdInvest said it has already received interest from public transport provider Shanghai Shentong Metro, human resources firm China International Intellectech Corporation (CIIC) and financial services firm China Merchant Bank.
The firm has also entered talks with undisclosed China-based banks, insurers and investment funds.
In addition to the 2,000 to 3,000 jobs IdInvest hopes to create through the venture, it will also launch a sister investment initiative that will seek to create jobs in China.
– Photo of IdInvest CEO Christophe Bavière and CIIC chief executive Tianyi Wang courtesy of IdInvest Partners