Chinese growth capital investor Jiuding Capital has hit a first close of $150m for its second fund.
Jiuding China Growth Fund II, which was launched in January, is now $50m from hitting its target, according to the Asian Venture Capital Journal.
The fund is already larger than Jiuding’s first vehicle, which was closed with commitments of $120m in 2010.
Jiuding’s strategy is to acquire of up to 30 per cent in companies that are nearing an IPO, targeting healthcare, consumer products, agriculture and manufacturing sectors.
In September last year a report from EY showed that fundraising in China met “significant headwinds” in the first half of 2013.
Copyright © 2014 AltAssets