China, People's Republic of: CDH VGC Fund II, L.P.
An equity investment of up to $30 million in CDH VGC Fund II, L.P. (_VGC Fund II_ or _the Fund_), a targeted $500 million People's Republic of China (_PRC_) focused venture and
growth capital fund designed to make equity investments in sectors focusing primarily on healthcare, supply chain and/or consumer, and artificial intelligence & technology (_AI+_).
Project Details
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Project Officer
Teo, Yee Hean
Private Sector Operations Department
Request for information -
Country/Economy
China, People's Republic of -
Sector
- Finance
| Project Name | CDH VGC Fund II, L.P. | |||||
| Project Number | 53185-001 | |||||
| Borrower / Company | CDH VGC Fund II, L.P. |
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| Country / Economy | China, People's Republic of |
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| Location | Nation-wide | |||||
| Type or Modality of Assistance |
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| Strategic Agendas | Inclusive economic growth |
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| Drivers of Change | Partnerships Private sector development |
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| Sector / Subsector | Finance / Finance sector development |
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| Gender Equity and Mainstreaming | No gender elements | |||||
| Responsible ADB Department | Private Sector Operations Department | |||||
| Responsible ADB Division | Private Sector Investment Funds & Special Initiatives Div | |||||
| Responsible ADB Officer | Teo, Yee Hean | |||||
| Project Sponsor(s) | ||||||
| Description | An equity investment of up to $30 million in CDH VGC Fund II, L.P. (_VGC Fund II_ or _the Fund_), a targeted $500 million People's Republic of China (_PRC_) focused venture and growth capital fund designed to make equity investments in sectors focusing primarily on healthcare, supply chain and/or consumer, and artificial intelligence & technology (_AI+_). |
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| Objectives and Scope | The proposed investment in VGC Fund II will provide about 20 private companies with growth capital to help fast track their development. In doing so, the fund will help increase the depth and diversity of venture and growth capital business models, encourage entrepreneurship, and support the transition of the PRC economy from one focused on manufacturing to one driven increasingly by innovation and technology. | |||||
| Linkage to Country/Regional Strategy | The investment is aligned with the operational priorities of ADB Strategy 2030, including addressing remaining poverty and reducing inequalities by generating quality jobs, improving education, and achieving better health for all. Strategy 2030 also supports using private equity funds as an important modality to extend ADB's reach because of their significant leveraging and mobilizing effects, as well as to promote financial inclusion. |
| Safeguard Categories | |
|---|---|
| Environment | FI |
| Involuntary Resettlement | FI |
| Indigenous Peoples | FI |
| Summary of Environmental and Social Aspects | |
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| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| Timetable for assistance design, processing and implementation | |
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| Concept Clearance | 04 Jul 2019 |
| Credit Committee Meeting | 06 Sep 2019 |
| Approval | 18 Oct 2019 |
| Last PDS Update | 06 Apr 2021 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
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| Title | Document Type | Document Date |
|---|---|---|
| CDH VGC Fund II, L.P.: Report and Recommendation of the President | Reports and Recommendations of the President | Sep 2019 |
| CDH VGC Fund II, L.P.: Initial Poverty and Social Analysis | Initial Poverty and Social Analysis | Jun 2019 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
Related Publications
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
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