Fund Raising in January Was Reduced, RMB Funds Is Still the Mainstream
Released on 2011-10-24 15:13 | readings
2011年1月，中国股权投资市场新成立基金数量相比上个月有所增加，但因春节假期影响，本月募资活动有所减少。募资完成规模环比下降。在本月新成立及完成募资的基金中，人民币基金仍占据绝对主流，外资机构继续发力进入中国设立人民币基金。此外，在市场竞争及大型企业纷纷涉足私募股权投资的背景下，基金的专业化趋势愈加明显。
根据《中国经济新闻》2010年的报道，长期以来,在中国市场上外资基金占据了主导的优势,本土人民币基金始终处于尾随的边缘,而2009年人民币基金在募资额度及投资活跃度方面均超过了外币基金。据创业投资及私募股权研究机构清科集团统计, 09年首11个月新募集的90只基金中, 人民币基金有82只, 占比91.1%, 外币基金只有8只, 占比8.9%; 人民币基金募资金额为35.31亿美元, 占总额的69.4%, 外币基金募资金额为15.58亿美元, 占募资总额的30.6%。在众多因素推动之下, 人民币基金优势日益显现, 逐渐打破了中国创投市场以美元基金为主导的传统格局。
1月有5支基金首轮募资完成，募资金额为2.08亿美元，相比上个月均有所减少；6支基金完成募资，募资规模为7.07亿美元，环比分别下降25.0%和48.1%。由于临近春节假期，投资者普遍放缓投资步伐，因此，相比基金成立情况，本月基金募资活跃度相对不足。而相比2010年1月份 (18支基金募资完成28.54亿美元) 本月募资规模也下降明显。
从币种来看，本月募资基金中人民币基金依然占绝对主流，仅披露2支美元基金，分别为开始募资及募资完成基金——美国第二大寿险公司保德信金融集团与上海复星高科技有限公司共同筹建一支美元基金，规模为6亿美元；光大控股集团旗下直接投资业务的第三只海外私募基金“中国特别机会基金III”，完成募资4亿美元，计划投放于中国内地的农业、消费业、服务业及金融辅助行业等领域。
1月募资基金中，关注特定产业、或者具有特定投资主题的基金占据较高比例。
专业化基金的出现，主要源于投资机构谋求在细分行业形成专业化竞争优势，此外，以企业为主导的专业化基金，则利用企业现有资源，以期在寻找投资项目及增值服务方面取得优势。因此，随着私募股权投资市场竞争加剧以及更多大型公司进入VC/PE领域，基金专业化趋势将愈加明显。
In January 2011, the number of new funds in Chinese equity market last month has increased compared to the previous month. However, for the Spring Festival holidays, the fund-raising events this month decreased. The fund-raising completion scale has shrunk month on month. Among the new funds raised and completed this month, the RMB funds are still in the absolute mainstream. The foreign institutions continue to force the establishment of the RMB funds in China. In addition, the tendency for funding specialization is increasing because the market competition is fierce and large enterprises have set foot in the context of private equity investments.
According to "China Economic News" reported in 2010, the foreign funds had been accounted for the leading edge in the Chinese market for a long time, and the Local RMB Fund was just a supporting player. But in 2009 both RMB funds in the fund-raising and investment activity have outnumbered the foreign currency funds. According to the statistics of venture capital and private equity research group Zero2IPO, there are 82 RMB funds, accounted for 91.1% in the raised 90 new funds in the first 11 months of 2009. And only eight foreign currency funds, accounting for 8.9%; RMB Fund was raised $ 3.531 billion, accounted for 69.4% of the total. The foreign currency fund was raised 15.58 billion U.S. dollars, accounted for 30.6% of the total fund-raising. As for many driving factors, the advantage of RMB funds has emerged, and gradually broke into the Chinese market that was led by traditional U.S. venture capital funds.
In January, there was 5 funds have completed the first-round of fundraising, accounting for $ 208 million, which is a drop compared to last month; 6 funds have completed the fund raising of $ 707 million, with a decrease of 25.0% and 48.1% for each. As for the approaching Spring Festival holiday, the investors generally slow down the pace of investing, therefore, compared to the fund establishing, fund-raising activity this month has the relative lack of funds. And compared to January 2010 (18 funds raised for $ 2.854 billion) the size of fund-raising in January has also significantly decreased.
As for the currency, raising funds in January is still in the absolute mainstream of RMB funds, with the disclosure of only 2 US dollar funds which are starting fund and completion fund - the second large U.S. life insurer Prudential Financial Group and Shanghai Forte Star Technology Co., Ltd. jointly established one U.S. dollar fund, accounted for $ 600 million; China Everbright Group's third direct overseas investment of private equity fund "China Special Opportunities Fund III", has complete the fund-raising of $ 400 million, planning to invest in the Mainland China's agriculture, consumer, services, financial aid industry and other fields.
In January, the fundraising has been focusing on specific industries or specific investment themes. The emergence of specialized funds derived from investors seeking competitive advantage by the formation of specialized sub-industry. In addition, the specialized business-oriented funds, by the use of existing resources, try to search for investment projects and value-added services to obtain advantages. Thus, as for the private equity market competition, and more large companies enter the VC / PE field, fund specialization trend will become more apparent.
2011年1月，中国股权投资市场新成立基金数量相比上个月有所增加，但因春节假期影响，本月募资活动有所减少。募资完成规模环比下降。在本月新成立及完成募资的基金中，人民币基金仍占据绝对主流，外资机构继续发力进入中国设立人民币基金。此外，在市场竞争及大型企业纷纷涉足私募股权投资的背景下，基金的专业化趋势愈加明显。
根据《中国经济新闻》2010年的报道，长期以来,在中国市场上外资基金占据了主导的优势,本土人民币基金始终处于尾随的边缘,而2009年人民币基金在募资额度及投资活跃度方面均超过了外币基金。据创业投资及私募股权研究机构清科集团统计, 09年首11个月新募集的90只基金中, 人民币基金有82只, 占比91.1%, 外币基金只有8只, 占比8.9%; 人民币基金募资金额为35.31亿美元, 占总额的69.4%, 外币基金募资金额为15.58亿美元, 占募资总额的30.6%。在众多因素推动之下, 人民币基金优势日益显现, 逐渐打破了中国创投市场以美元基金为主导的传统格局。
1月有5支基金首轮募资完成，募资金额为2.08亿美元，相比上个月均有所减少；6支基金完成募资，募资规模为7.07亿美元，环比分别下降25.0%和48.1%。由于临近春节假期，投资者普遍放缓投资步伐，因此，相比基金成立情况，本月基金募资活跃度相对不足。而相比2010年1月份 (18支基金募资完成28.54亿美元) 本月募资规模也下降明显。
从币种来看，本月募资基金中人民币基金依然占绝对主流，仅披露2支美元基金，分别为开始募资及募资完成基金——美国第二大寿险公司保德信金融集团与上海复星高科技有限公司共同筹建一支美元基金，规模为6亿美元；光大控股集团旗下直接投资业务的第三只海外私募基金“中国特别机会基金III”，完成募资4亿美元，计划投放于中国内地的农业、消费业、服务业及金融辅助行业等领域。
1月募资基金中，关注特定产业、或者具有特定投资主题的基金占据较高比例。
专业化基金的出现，主要源于投资机构谋求在细分行业形成专业化竞争优势，此外，以企业为主导的专业化基金，则利用企业现有资源，以期在寻找投资项目及增值服务方面取得优势。因此，随着私募股权投资市场竞争加剧以及更多大型公司进入VC/PE领域，基金专业化趋势将愈加明显。
In January 2011, the number of new funds in Chinese equity market last month has increased compared to the previous month. However, for the Spring Festival holidays, the fund-raising events this month decreased. The fund-raising completion scale has shrunk month on month. Among the new funds raised and completed this month, the RMB funds are still in the absolute mainstream. The foreign institutions continue to force the establishment of the RMB funds in China. In addition, the tendency for funding specialization is increasing because the market competition is fierce and large enterprises have set foot in the context of private equity investments.
According to "China Economic News" reported in 2010, the foreign funds had been accounted for the leading edge in the Chinese market for a long time, and the Local RMB Fund was just a supporting player. But in 2009 both RMB funds in the fund-raising and investment activity have outnumbered the foreign currency funds. According to the statistics of venture capital and private equity research group Zero2IPO, there are 82 RMB funds, accounted for 91.1% in the raised 90 new funds in the first 11 months of 2009. And only eight foreign currency funds, accounting for 8.9%; RMB Fund was raised $ 3.531 billion, accounted for 69.4% of the total. The foreign currency fund was raised 15.58 billion U.S. dollars, accounted for 30.6% of the total fund-raising. As for many driving factors, the advantage of RMB funds has emerged, and gradually broke into the Chinese market that was led by traditional U.S. venture capital funds.
In January, there was 5 funds have completed the first-round of fundraising, accounting for $ 208 million, which is a drop compared to last month; 6 funds have completed the fund raising of $ 707 million, with a decrease of 25.0% and 48.1% for each. As for the approaching Spring Festival holiday, the investors generally slow down the pace of investing, therefore, compared to the fund establishing, fund-raising activity this month has the relative lack of funds. And compared to January 2010 (18 funds raised for $ 2.854 billion) the size of fund-raising in January has also significantly decreased.
As for the currency, raising funds in January is still in the absolute mainstream of RMB funds, with the disclosure of only 2 US dollar funds which are starting fund and completion fund - the second large U.S. life insurer Prudential Financial Group and Shanghai Forte Star Technology Co., Ltd. jointly established one U.S. dollar fund, accounted for $ 600 million; China Everbright Group's third direct overseas investment of private equity fund "China Special Opportunities Fund III", has complete the fund-raising of $ 400 million, planning to invest in the Mainland China's agriculture, consumer, services, financial aid industry and other fields.
In January, the fundraising has been focusing on specific industries or specific investment themes. The emergence of specialized funds derived from investors seeking competitive advantage by the formation of specialized sub-industry. In addition, the specialized business-oriented funds, by the use of existing resources, try to search for investment projects and value-added services to obtain advantages. Thus, as for the private equity market competition, and more large companies enter the VC / PE field, fund specialization trend will become more apparent.