Houde Capital China Fund announced to be launched in Binhai New Area of Tianjin (BNAT) days ago. Sources say approximately 40 PE funds and fund management companies have completed its registration in the area during the latest year.

Reportedly, the newly established Houde Capital China Fund is a PE fund sized about RMB1B. The initial capital was RMB150M, and the rest was committed to be allocated in the next two years. This PE Fund will invest in enterprises distributed in green energy, new materials, modern manufacturing, modern services and environmental protection sectors in line with the national industrial development strategy.

The investment targets are growth-stage or late-stage enterprises with the high-growth potential to become the leads in their respective sectors. In addition, they should generate about RMB100-300M of turnover and RMB10-30M of net profit this year.