Chinese PE firm Yun Feng raises $1.52b
(Agencies)
2011-01-25 15:06
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China's private equity fund Yun Feng Capital has raised about 10 billion yuan ($1.52 billion) through two funds to invest in Internet, consumer and new energy firms in China, its chairman David Yu said.
Established last April, Yun Feng Capital anchored China's online game operator Tencent Holdings as one of its investors, Yu told Reuters.
Yu would not disclose Tencent's investment amount and said 'both sides have signed a confidentiality agreement.'
But the minimum investment for the initial phase will be $10 million, Yu said.
Yun Feng bought a 16 percent stake in SOHU.com unit SOGUO earlier with Alibaba, whose chairman Jack Ma is one of the founders of the private equity firm.
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"Given the company's development trend, (SOGUO) could occupy 10 to 20 percent of the China market and we hope to achieve this goal in one to two years," he said.
Among the private firm's other founders are Giant Interactive Group Inc Chairman Shi Yuzhu, New Hope Group Chairman Liu Yonghao and China Dongxiang (Group) Co Ltd Chairman Chen Yihong.
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