Citic Capital Debuts $113 Million China Venture Fund

Citic Capital Debuts $113 Million China Venture Fund

Citic Capital Holdings has closed a $113 million maiden fund to invest in small to medium-sized businesses across China, coming in short of a $150 million target.

The smaller sized vehicle reflects general partners’ struggle in attracting fresh capital from limited partners as it becomes harder for them to exit portfolio companies and return cash to investors. In China, fund managers’ ability to offload investments has been seriously impeded by a frozen initial public offerings market.

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