Private-equity firms - investment Tianquan CEO Thomas Chan Hung said Tuesday, the company seed money the first phase of more than 100 million U.S. dollars, is accelerating at a relatively low valuation of the times to look for opportunities, the main concern about the medical and health, renewable energy and consumer sectors of the early enterprise growth.
Since last year after the baptism of the global financial crisis, many private-equity firms have to reduce or shut down part of the business, a number of Western companies have been forced to return to the core Western markets; On the other hand, the valuation of enterprises has been a sharp rise in After the gradual return to a more reasonable price range, waiting for admission for the holders of the funds of private equity fund investment opportunities.
Tianquan investment in the first investment project is the end of last year's high-tech enterprises - British Shanghai Shuo Polymer Material Co., Ltd.. Chen Cheng-hong said the investment in the first half of this year 1-2 medical sectors. Currently in Hong Kong and Shanghai offices, six months and then will set up base in Chengdu.
"is certainly now a good time to invest a lot of private equity funds ... ... to spend a lot of time to sort out the past investments, we do not have this burden." He said in an exclusive interview with Reuters.
investment before the end of last year as a result of the first projects, investment Tianquan able to avoid financial turmoil, it is not necessary to temporarily withdraw from the project can not refinance.
as private equity companies - Managing Director of JAFCO Asia and Head of North Asia for seven years, Mr Thomas Chan Hung in 2007, with stock investors in Asia and Penta Fund founder John Zwaanstra cooperation, the creation of day Stephen investment.
Thomas Chan Hung that there was no reason to invest in more than ten years ago to make a profit, and now has improved the investment environment to make money. After this round of financial crisis, investment firms were soon ripe, quality, or many, will accelerate the pace of their investment.
Chen Cheng-hong had JAFCO Asia, Suez Asia, HSBC Direct (Asia) Standard Chartered in Asia, as well as running gear for service. To identify and invest in the enterprises, including China's largest manufacturer of solar polysilicon films - LDK Solar Zevi (LDK.N: Quote), fashion Ports (0589.HK: Quote), China Wireless (2369.HK: Quote) Taiwan Kai Cedel (2352.TW: Quote) BenQ's brand (BENQ), Chinese communication (GRRF.O), Canadian Solar (CSIQ.O) and so on.
Thomas Chan, Hong Kong is now and served as Venture Capital and Private Equity Association, the Hong Kong Stock Exchange Main Board and GEM Listing Committee members, as well as the Hong Kong Securities and Futures Commission, the members of the public shareholders.
optimistic about RMB funds
RMB fund has been rapid development in recent years, and the financial crisis led to a number of overseas private equity funds to increase financing difficulties, and even some default risk, but also to the opportunities arising from the RMB funds. However, many LP (limited partner) are not yet ripe, it is facing the development of long-term development of the bottleneck.
Thomas Chan Hung pointed out that many of the domestic LP are not yet ripe. For example, some may be reluctant to run the LP to the management fee, or as the LP, but also hope that as the GP (general partner) as to participate in the management.
China Venture Capital and Private Equity Research and advisory body - Qing Branch Group reported that the first quarter of the Chinese yuan venture capital fund market is still dominated Prospectus. Eight local agencies to raise the nine yuan Fund Prospectus a total of 506 million U.S. dollars, accounting for 56.9 percent of total Prospectus.
gate opening for the upcoming GEM, Thomas Chan, Hung think it has both advantages and disadvantages for the private market. On the one hand, because some companies have chosen to go to the GEM Listing, may be in the latter half of the VC (venture capital) have some negative effect; On the other hand, GEM is also to the entire private equity market has increased the opportunity to withdraw from.
"For example, some companies have done a first and second rounds of financing, they want financial 500-1,000 million, is the third round to do it? Or the GEM Listing? Directly listed, so a lot of investment in the latter half of the VC, there is no business. "he said.