Pioneer and JPMorgan Chase established a $ 150 million fund to pilot QFLP (VC310)

On June 22, the equity investment fund company of China Capital Group announced that it has signed a cooperation agreement with One Equity Partner, an equity investment company owned by JPMorgan Chase, and will invest US $ 200 million in China in the next 2 to 3 years. The first equity investment fund will establish its first Sino-foreign cooperative equity investment fund, with a scale of 150 million US dollars, and has applied for the Beijing Qualified Foreign Equity Investment Enterprise (QFLP) pilot.

It is understood that the fund is registered in Beijing and focuses on investing in China's growing small and medium-sized enterprises. The core investment areas include environmental protection and energy conservation, new energy and high technology.

Ke Gang, a partner of Beijing Capital Equity Investment Fund Management Company, said that the aforementioned cooperation agreement will be funded by JPMorgan Chase, of which US $ 25-30 million will be invested with the company invested in the Beijing Capital Joint Venture Fund, and the remaining funds will be used for large-scale projects such as mergers and acquisitions.

Ke Gang also said that among the US $ 150 million joint venture fund, local LPs (limited partners) mainly include Capital Group and its partners, foreign LPs include Lexington, and FOF (funds in funds) in Latin America, the Middle East and Hong Kong )and many more.

In addition, Ke Gang revealed that the Beijing version of QFLP has been issued to major companies internally, but it has not been publicly released. For the “approved pilot foreign investment management companies required by Shanghai QFLP, foreign exchange funds can be used to contribute to equity investment companies initiated by them. The amount does not exceed 5% of the total amount of funds raised ", which is not included in Beijing ’s regulations.

Founded in 1995, Capital Capital Group is a wholly-owned state-owned enterprise under the Beijing Municipal SASAC. Prior to this, Capital Group has built a number of financial platforms such as Capital Venture Capital, Capital Guarantee Company and Capital Capital, and owns a number of listed companies such as Capital Capital and Capital Real Estate.

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