Fund Briefs, January 2011

BNP Paribas China Fund to Launch HK Funds Soon

HFT Investment Management Co. plans to launch its first offshore funds through its new Hong Kong subsidiary within three months to accelerate international expansion, its CEO said last month. HFT Investment also hopes to launch its second overseas investment fund for mainland Chinese investors under the country’s Qualified Domestic Institutional Investor (QDII) scheme within a month, CEO Tian Rencan said at the Reuters China Investment Summit.

The company plans to offer two funds simultaneously in Hong Kong—one through a private placement worth roughly $50 million to $100 million, and the other to the public, expected to be worth around $200 million initially, Tian said at the summit held at the Reuters office in Shanghai.

“We’re very familiar with listed mainland companies,” Tian said. “We can make a living [in Hong Kong] using our skills.”

Reuters

Ventureast in India to Raise $200M

Ventureast, a venture capital and private equity firm launched in 1995, is planning to launch a new biotech fund of $200 million sometime early this year, according to The Economic Times in India. “The fund will look at investing in three areas—agriculture & food processing, clean environment and healthcare,” Sarath Naru, managing partner of Hyderabad-based Ventureast told the Times in December. The newspaper, citing stats from Venture Intelligence, reported that 15 funds have raised $2.2 billion in India through the first three quarters of the year. That includes Hyderabad-based Sathguru Management Consultants, which is raising $100 million to invest in agriculture, life sciences, health, energy and environment.