Merchant bank New York Pacific Capital (NYPC) has launched a RMB300m ($45m) venture capital fund to make investments in clean technology as well as the consumer products, education and healthcare sectors.
The Suzhou Kabei Golden Fund, based in the greater Suzhou area of China, will look to make between 10 and 15 investments each worth about RMB45m. It is NYPC’s second fund launch after agreeing with the Beijing Municipal Bureau of Finance to start a similar clean-tech fund in the capital.
Suzhou Cheng He Venture Capital is the lead investor in the second fund and Agricultural Bank of China is selling it.
NYPC also runs a China Small and Medium Enterprises Growth Index it launched in January with 58 companies listed outside of the mainland with market capitalizations of between $50m and $1.5bn. There were 319 China-based companies listed overseas in February.