China's Centurium Capital, a big backer of domestic startup Luckin Coffee, ...
HONG KONG - China’s Centurium Capital, a big backer of domestic startup Luckin Coffee, said it has raised more than $2 billion in its debut fund, giving the private equity firm more firepower to cut deals involving the world’s second-largest economy.
The fund secured strong interest from global investors, known as limited partners , such as pension funds, sovereign wealth funds and funds-of-funds, it said. The U.S. dollar fund will help Centurium invest in Chinese firms that use overseas structures such as variable-interest entities. “After helping several entrepreneurs fulfill their entrepreneurial dream for so many years, I also have my dream of launching our own firm,” Li told Reuters.
“Instead of being a pure capital provider, firms like Centurium can better integrate with local markets and be more efficient and responsive to provide bespoke local solutions to new challenges and opportunities faced by Chinese entrepreneurs.”
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