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Laxman Pai, Opalesque Asia: Beijing's Oceanpine Capital closed its Fund II with $400 million for China-US investments in advanced technology, including biopharma companies.
This is the first time Oceanpine has sought funding from external LPs since its inception in Dec 2016, said the tech investor with offices in Beijing (headquarters), Hong Kong, and Silicon Valley. That year, the firm set up its $400 million debut fund using GP's internal capital.
Founder Dave Chenn, who previously established a multi-billion-dollar conglomerate company in 2005, has participated as an LP in 15 technology-focused venture capital and private equity funds and has co-invested in a number of highly successful deals.
"The final closing LPs included the GP management team itself and other top-tier international institutional investors from U.S. and Asia, including reputable insurance pockets, prominent technology company leaders (mostly listed) and their founders, asset management allocators, family offices, and Midas List venture capitalists," said the release.
Oceanpine has invested over $1 billion across more than 40 companies in both China and the US with Fund I and other investment vehicles. Among them are AI computing-power specialist Enflame Technology, Ansun Biopharma, Horizon Robotics, Black Sesame, and US graphical database platform TigerGraph.
Fund I has been fully invested and has secured two full exits and four IPOs with 50% DPI. Three more companies wi...................... To view our full article Click here
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