DBS sets up China onshore fund

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    DBS Private Equity has formed a US$100 million onshore renminbi fund based in Shanghai. The fund is named DBS Private Equity Enterprise and is wholly owned…

    DBS Private Equity has formed a US$100 million onshore renminbi fund based in Shanghai. The fund is named DBS Private Equity Enterprise and is wholly owned by DBS Bank through its subsidiaries DBS Nominees (Private) and DBS Capital Investments.

    The fund will provide capital to mid- to late-stage Chinese companies in growth industries, with a view to eventually listing them on the domestic Chinese A-share market. It will invest US$10 million to US$20 million, on average, for a minority stake in each promising Chinese companies over the next two to three years.

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