A Chinese fund manager and a U.S. venture firm are set to unveil another buyout fund that will focus on telecommunications, media and technology (TMT) firms, among other boomings sectors of the economy.
Sequoia Capital, a U.S. venture company, and Huatai Ruilian Fund Management, a unit of a Chinese securities firm, will be launching the second phase of a buyout fund worth 10 billion yuan ($1.6 billion), as the first one is almost fully deployed, according to Red Pulse.
Just like its predecessor (a 1 billion yuan fund), the new fund will invest mainly on TMT, health care, high-end manufacturing. The minimum buy-in for outside investors will be 4 million yuan.
Meanwhile, Sequoia Capital and Huatai Securities, parent of Huatai Ruilian, sealed an agreement on investment banking, research, and information sharing, the report said.
Here’s what Red Pulse wrote about the partnership:
“With Sequoia Capital, Huatai Ruilian will gain wider project access, experience and global channels for TMT and other emerging industries; Sequoia Capital’s influence in domestic investment banking and equity markets will be enhanced by Huatai Securities.”
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