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Alternative Market Briefing

Legend Capital racks up $500m for the eighth fund

Wednesday, October 21, 2020

Laxman Pai, Opalesque Asia:

Chinese venture capital and private equity fund manager Legend Capital (LC) has closed its eighth fund - LC Fund VIII - at a hard cap of $500 million.

LC Fund VIII received strong support from existing LPs and has further diversified its investor base, securing commitments from institutional investors in the Middle East, Europe, and Asia including sovereign wealth funds, private pension funds, corporate investment funds, and family offices.

Founded in 2001, Legend Capital, a brand being supported by its strategic partner, Legend Holdings, currently operates from five offices in Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, with Beijing as its headquarters.

LC manages approximately $8 billion of AUM and invests in growth-stage TMT and consumer companies, covering internet and innovative consumption, enterprise IT service, advanced manufacturing, deep technology, and healthcare sectors, said a press release.

"Adopting a highly institutionalized and systematic approach to investing, Legend's team of 60 investment professionals across sector-specialized teams is further supported by a management oversight platform which offers high value-add to companies through its 15-person senior in-house consultants' group, as well as legal and portfolio risk management teams," it said.

Atlantic-Pacific Capital, the largest privately-owned global placement agency and advisory firm, served as the exclusive global placement agent.

Hao Che......................

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