Investcorp, a global provider and manager of alternative investment products, and China Everbright Limited, a Hong Kong-based alternative investment firm in Greater China, have announced a new step in their existing partnership by combining their investment teams investing in the Chinese technology sector.
The combined team and investment committee will jointly manage the China Everbright New Economy Fund I. In addition, Investcorp and China Everbright intend to explore the opportunity to establish a successor private equity fund, jointly managed by the two parties, to further access China’s technology sector.
This joint partnership will draw on Investcorp’s three decades of experience investing globally in the technology sector, and China Everbright's relationships and expertise in the China market.
China is experiencing accelerated growth in the technology sector as companies find value accretive growth through novel, nuanced or niche differentiating factors that aim to boost their competitive edge and increases their respective market share. Technology firms across the spectrum from e-commerce and internet services to smart retail and artificial intelligence to b2b software solutions will be considered key targets for the team.
Hazem Ben-Gacem, co-CEO of Investcorp, says, “This is our most significant step so far towards expanding our footprint into the fastest growing economy in the world, China, and is in line with our strategy of growing AUM through global expansion. Through this partnership, we look forward to investing in tech companies that show significant potential to scale profitably and are managed by a strong management bench as part of our efforts to expand our offerings to our global client base.”
Investcorp and China Everbright initiated their first collaboration in September 2018 through a fund specializing in China’s technology sector.
Investcorp has an established history of successfully investing in the European technology sector. Since 2001, the firm has invested more than US$1.5 billion in technology businesses in the US, Europe and Asia, across several verticals including data, security, fintech and epayments.