China’s Richland Capital closes third RMB fund at $ 109 million


Richland Capital, a China-focused private equity firm targeting early growth opportunities, has finalized the final closing of its third RMB-denominated venture capital fund at 700 million yuan ($ 109 million), according to a report. announcement.

The VC, which announced the first close of its third venture capital fund in July last year, will target investments in industrial technology sectors in China.

The company has received capital commitments from a large number of domestic sponsors such as industrial zone developer Shanghai Xinjinshan Industrial Investment Development and Redbud Capital funds of funds backed by Tsinghua Holdings.

It has also attracted a slew of international LPs, including Singapore-based paint and coatings specialist Nipsea Group, Belgian chemicals company Solvay SA, Chinese subsidiary of Japanese global chemical consortium Asahi Kasei Corporation, French materials giant Saint -Gobain, the major Saudi Arabian chemical company. Basic Industries Corporation (SABIC), as well as the German companies Henkel, Evonik Industries and BASF.

Richland Capital, established in 2011, invests primarily in the areas of new materials, high-end equipment and digital technology with a focus on semiconductors, 5G, AI, laser industrial automation and new energy vehicles.

To date, he claims to manage 3 billion yuan ($ 466 million) in assets and has invested in 40 startups. Companies in its portfolio include DEER backed by Sequoia Capital China, Chinese chemicals maker Rianlon, crystalline silicon solar cell maker CECEP Solar Energy Technology, premium laser supplier Suzhou Delphi Laser, automotive design startup Launch Design, Sunrise Packaging Material, among others.

Earlier this month, other Chinese venture capital firms that secured commitments from LP include Source Code Capital which had secured more than 7 billion yuan ($ 1.1 billion) for its fifth yuan fund. , the private equity platform of GLP China Hidden Hill Capital, as well as Security Capital, an investment subsidiary of QI-ANXIN Technology which reached the first close of its second RMB fund at 1 billion yuan (155 million yuan). dollars).


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