China Development Bank raises RMB15bn ($2.3bn) fund of funds to be split two-thirds towards buyouts and a third to VC and has a target of RMB60bn.
China Development Bank (CDB) has set up a local currency fund of funds for the venture capital and private equity industry.
The fund has raised RMB15bn ($2.3bn) to be split two-thirds towards buyouts and a third to VC and has a target of RMB60bn.
The fund was set up by CDB’s China Development Bank Capital subsidiary and Suzhou Industrial Park.
Separately, CDB has agreed to lend $10bn to industrial group Xinjiang TBEA to support its international strategy and overseas expansion.
