fbpx 53185-001: CDH VGC Fund II, L.P. | Asian Development Bank

China, People's Republic of: CDH VGC Fund II, L.P.

Nonsovereign (Private) Project | 53185-001 Status: Approved

An equity investment of up to $40 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

Project Officer
Teo, Yee Hean Request for information
Country
  • 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.
Country China, People's Republic of
Location Nation-wide
Type or Modality of Assistance
Equity Ordinary capital resources USD 30.00 million Approved
Strategic Agendas Inclusive economic growth
Drivers of Change Partnerships
Private sector development
Sector / Subsector

Finance / Finance sector development

Gender Equity and Mainstreaming No gender elements
Responsible ADB Department
Responsible ADB Division
Responsible ADB Officer Teo, Yee Hean
Project Sponsor(s)
Description

An equity investment of up to $40 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+_).

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
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 04 Jul 2019
Credit Committee Meeting 06 Sep 2019
Approval 18 Oct 2019
Last PDS Update 18 Oct 2019

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Evaluation Documents See also: Independent Evaluation

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Related Publications

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