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PEDaily E-Magazine Issue No.525 Summary

Core Content Overview

This issue of PEDaily E-Magazine, published on March 9, 2012, provides a comprehensive overview of the Chinese VC/PE industry in February 2012, including fund raising trends, major investment deals, and insights from industry experts. It also highlights upcoming events, such as the 7th China Venture Capital & Private Equity Forum in Silicon Valley, and discusses the broader implications of market dynamics on the industry.

Main Views and Key Information

1. VC/PE Fundraising Trends

• In February 2012, 11 new VC/PE funds were raised, representing an 83.3% increase compared to the previous month.
• However, the new investible capital raised for the Chinese mainland decreased by 26.5% month on month, totaling US$3.15B.
• RMB-denominated funds accounted for 90.8% of the total, with an average of US$318.19M per fund.
• USD-denominated funds represented 9.2% of the total, with an average of US$145.00M per fund.

2. Notable Investment Deals

• 17mh.com secured US$5M in funding from a US VC, becoming the first VC-backed website in China after the Spring Festival.
• Santander Consumer Bank plans to invest RMB306M in BOBCFC (Bank of Beijing Consumer Finance Co.) for a 20% stake.
• Shenzhen Doctorglasses Chain received nearly RMB100M from nine PE investors, including Jiuding Investment.
• Babycare Group, a leading early childhood education enterprise, completed Series C financing of US$10M with investment from Prax Capital.
• Tianjin Jirun Oilfield Services raised over RMB200M in Series A financing, with Shanghai Hinwill-Investment leading the round and contributing RMB40M.

3. Direct Investment Activity

• As of late February 2012, 36 securities companies had been approved to establish direct investment subsidiaries, with a total registered capital of RMB24.31B.
• 45 direct investment projects were listed, and 26 direct investment enterprises under securities companies were preparing for IPOs, seven of which had already been approved.

4. LPs and Investment Capacity

• Domestic listed companies became the main force of limited partners (LPs), with 101 companies contributing US$29.55B.
• Overseas listed companies also played a significant role, with 49 companies providing US$187.59B in investible capacity.

5. Industry Challenges and Opportunities

• The Chinese e-commerce market faced diminished investment enthusiasm, with only 34 investments disclosed in the second half of 2011, a third of the total number of deals in the year.
• The Chinese concept stocks and VC/PE fundraising were expected to face uncertain prospects due to market conditions.
• The 7th China Venture Capital & Private Equity Forum in Silicon Valley, scheduled for May 3, 2012, aimed to explore overseas experiences and strategies for success in the Chinese market.

Conclusion

The issue reflects the mixed landscape of the Chinese VC/PE industry in early 2012, marked by increased fund creation but reduced capital availability for investments. Despite the challenges, several notable companies secured significant funding, and the industry remains active with a focus on expansion, innovation, and global market entry. The upcoming Silicon Valley forum is expected to provide valuable insights and networking opportunities for industry participants.