ARIE Capital Group has been granted approval for its Private Fund Management (PFM) licence from the Asset Management Association of China (AMAC), and its Qualified Foreign Limited Partner (QFLP) licence by the Tianjin Free Trade Zone Bureau of Finance.
These two licences are a significant achievement for ARIE Capital Group and its business in China, where it plans to launch several venture capital and private equity funds. Under the QFLP licence it is now able to raise up to USD120 million from Tianjin Municipality’s investment quota, as well as additional capital from international investors that can be converted into RMB as contributions to RMB funds, and then converted back to other currencies upon exit. In addition, the PFM license allows ARIE to offer onshore multi-asset private funds (such as Private Equity and Venture Capital Funds) to both institutional and high-net-worth investors in China.
“This is a huge achievement for ARIE Capital Group to be granted both these licences in China,” says Simon Tobelem, CEO, ARIE Capital Group. “Not only do these enable us to launch a number of RMB funds, but it is also a significant affirmation for the business and what we are trying to do in China. A lot of work and planning has gone into being granted these licenses, and we have seen many far bigger and more established players fail to achieve what we have done along the way, so I have to congratulate our team in Nanjing and look forward to building on this success.”
The funds are expected to target several different geographical and sectoral markets, with a particular focus on medical devices, deep tech, agritech, and clean technologies.
“We have seen a huge increase in the number of foreign-owned financial institutions trying to break into the Chinese market over the last couple of years, so for ARIE Capital Group to be one of the first to be granted its licenses is both a huge achievement and an honour,” says Gianni Jiang, General Manager, ARIE Ventures China. “We are looking forward to building on our success in China over the past 6 years by launching new funds and working with local and international partners to create value from investments.”