Bahrain’s Investcorp, Everbright partner to invest in China technology sector

BAHRAIN’S INVESTCORP, EVERBRIGHT PARTNER TO INVEST IN CHINA TECHNOLOGY SECTOR

Bahrain-based Investcorp has partnered with Hong Kong’s China Everbright to jointly manage the China Everbright New Economy Fund I as well as explore the opportunity to establish a successor private equity fund to further invest in China’s technology sector.

The collaboration will benefit from Investcorp’s three decades of experience investing globally in the technology sector and China Everbright's deep-rooted relationships and expertise in the China market. 

Investcorp and China Everbright initiated their first collaboration in September 2018 through a fund specialising in China’s technology sector

Hazem Ben-Gacem, the Co-CEO of Investcorp, said that the partnership with Everbright is the firm’s most significant step towards expanding its footprint into the fastest growing economy in China.”

The firm has invested more than $1.5 billion in technology businesses in the US, Europe and Asia, across several verticals including data, security as well as fintech and ePayments and mobility.

“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,” said Ben-Gacem.

Investcorp also jointly launched private equity platform dedicated solely to investing in food brands in China, Singapore and greater Southeast Asia in partnership with China Resources and Fung Strategic Holdings.

In a statement, the three entities said that the new platform aims to raise $500 million and will be jointly owned and managed by the three founding partners, operating out of their respective offices in Beijing, Hong Kong and Singapore with $300 million of capital already committed by Investcorp, China Resources and the Fung Investments.

Investcorp, China Resources and Fung Investments intend to construct a diversified portfolio of investments to support fast growing businesses with anticipated higher margins and defensive franchise as well as new premium brands in niche sectors such as condiments, packaged food and healthy snacks.