Investcorp’s investment in China marks a continuation of its global expansion.
Bahrain’s Investcorp has partnered with China Everbright Limited, a sovereign-backed cross-border asset manager listed on the Hong Kong Stock Exchange.
In a statement, Investcorp stated that it has agreed to invest up to $150 million in the second round of the China Everbright Limited new economy fund as well as an additional co-investment right of up to $100 million.
The firm said its investment in China’s technology sector is in recognition of the country having the world’s highest number of internet users and being home to some of the fastest growing ‘unicorn’ technology companies valued at over $1 billion.
Mohammed Alardhi, Investcorp’s Executive Chairman, said that Investcorp continues to execute its global expansion strategy in order to provide its clients, partners, and stakeholders with access to a wider range of attractive investment opportunities worldwide.
“As a global investor in technology, we are pleased to announce this partnership with Everbright who we believe, with its on-the-ground expertise, is an ideal partner for Investcorp in the Greater China region,” added Hazem Ben-Gacem, Co-CEO of Investcorp.