IP Group has set up a joint venture with China Everbright that will invest in Chinese subsidiaries of the commercialisation firm’s portfolio through a $235m-target fund.
IP Group, the UK-based commercialisation firm, unveiled a joint venture called IPG-CEL China Ventures with asset manager China Everbright today that will raise a fund sized up to RMB1.5bn ($235m).
The fund is expected to achieve a first close of $77m this year, before growing to its target size within the next three years.
The fund will exclusively invest in joint ventures and subsidiaries of overseas companies incorporated in China. It will deploy no less than 40% of its capital…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
