Spring Capital has achieved a final closing of US$250 million, which is the fund cap, in late August.
Spring works with entrepreneurial and profitable companies in the PRC that are seeking early growth capital to guide and expand their business. They focus includes clean technology, healthcare and pharmaceuticals, consumer / brands and professional and business services. They have attracted interest from institutional investors who are keen to participate in this exciting investment vintage and who recognize Spring’s clear differentiating factors in the PRC lower mid-market:
Highly experienced team – have completed more than 50 PRC deals in over 19 years in the industry
Complementary skills to coach/guide first generation CEOs and founders
Pure early growth stage focus, investing in sectors in which team members possess successful track records and deep domain knowledge
Unified team approach – offices in Shanghai, Hong Kong, and Suzhou
Lead investor in early institutional round and a meaningful follower in subsequent rounds
Very selective in number of deals closed annually - driven by analysis, substantial minority and operational improvement
Of the US$250 million raised for Fund One, 71 percent came from family offices, 16 percent from funds of funds and pension funds, and the remaining 13 percent from corporate and high networth investors.
Spring has been established in late 2007. It completed a first closing in November 2009 and a second closing in February 2010.