The company has agreed to invest $250m into a Hong Kong-listed tech fund
Bahrain-listed Investcorp will invest as much as $250 million in its first investment in China, the company announced this week.
Investcorp will partner with China Everbright Limited, a sovereign-backed cross border asset manager publicly listed on the Hong Kong Stock Exchange, to invest up to $150 million in the second round of the China Everbright Limited New Economy Fund.
The company has also agreed to an additional co-investment right of up to $100 million.
In the first round, the fund received an aggregate commitment of $313 million from other investors that has been deployed into Chinese technology companies working in a wide variety of segments including e-commerce, smart retail and artificial intelligence.
“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,” said Investcorp executive chairman Mohammed Alardhi. “China is a pivotal pillar of the global economy and a critical component of a balanced global asset allocation strategy.”
The fund’s portfolio comprises investments in several high-profile companies in greater China, including one of the largest unlisted mobile e-commerce platforms in the world, one of the largest online-to-offline consumer services companies and a popular long-form online video platform.