China-focused private equity firm Eastern Link Capital has raised RMB2bn ($330m) for its second fund.
Like Eastern Link’s first fund, the new vehicle will invest in the consumer, pharmaceutical, IT and new energy sectors, according to the Asian Venture Capital Journal.
Eastern Link targets businesses with revenues of $500m or more and has an investment period of three to five years.
Investors in the new fund include a fund of funds joint venture of Suzhou Ventures and China Development Bank.
China-focused funds currently in the market include Sailing Capital’s buyout vehicle, which has recently been launched with a RMB5bn ($821m) target.
The fund will offer a platform for Chinese companies looking to venture overseas for growth opportunities, and will also prioritise the use of local currency in pricing, transaction and settling of projects.
Copyright © 2014 AltAssets