The insurance group has closed its Ping An Capital subsidiary's second consumer-focused fund, the vehicle having committed more than half its capital already.
Ping An Capital, a corporate venturing subsidiary of China-based insurance group Ping An, has raised more than RMB5.5bn ($786m) for a consumer technology fund, DealStreetAsia reported today.
The vehicle’s limited partners include another insurance firm, PKU Founder Life, as well as financial services firm Industrial and Commercial Bank of China, China Everbright’s CEL Fund-of-Fund, Peking University Education Foundation and China International Capital Corp’s CICC Capital unit.
Ping An Capital operates as Ping An’s primary equity investment vehicle, backing both private…
