CATL-backed $732M venture fund clears China filing
What's the deal? A CATL-backed venture capital fund has completed its private investment fund filing with the Asset Management Association of ChinaDealroom has a profile for this one. Try Dealroom →. The vehicle, Xiamen Times Shenyuan Venture Capital Fund PartnershipDealroom has a profile for this one. Try Dealroom →, is sized at US$673.8M.
Who's behind it? Battery maker CATL (03750.HK) disclosed the filing through its subsidiary, Fujian Mindong TimesDealroom has a profile for this one. Try Dealroom → Rural Investment Development Partnership. That unit signed a partnership agreement on September 15 to join the fund.
How much did CATL commit? Mindong Times pledged US$68.8M, giving it a 10.2% committed interest in the fund. The vehicle has now obtained its private investment fund filing certificate under Chinese regulations.
Why now? The filing comes as CATL continues to extend its reach beyond battery manufacturing into venture investing. Clearing the regulatory step allows the fund to begin deploying capital.
The signal: A $732 million venture fund anchored by one of the world's largest battery makers underscores how China's industrial champions are building their own investment arms to shape the startups around them.
Read more: aastocks.com
Image credit: Matti Blume via Wikimedia Commons (CC BY-SA 4.0)
