Greater China-focused mid-cap private equity firm Zoyi Capital has invested an undisclosed amount in Taiwan-based machine tool producer, Quaser Machine Tools Inc., according to media reports.
Established in 1991, Quaser Machine Tools has cooperation with 30 distributors worldwide. It operates service centers in Switzerland and the Greater China region, with the European market taking up 70% of its sales.
Taiwan-based Zoyi Capital is currently seeking to raise US$300 million for its debut fund, with a hard cap of US$500 million.
Founded last year by Andrew Kuo, previously vice chairman of Blackstone Greater China, Zoyi Capital invests in mid-cap companies with a proven history in the Chinese and Taiwan market.
The other founding partners of Zoyi Capital include Yu Pei-Pei, formerly managing director of Goldman Sachs’ private equity division, and Eric Chen, previously president of North Asia and Greater China at Fullerton Financial, a subsidiary of Temasek Holdings.
The firm has invested in Taiwanese Food Brand Vigor Kobo, Shanghai-based high-end women’s apparel brand Pink Mary, and Beijing-based business solutions and IT services provider Camelot Information Systems earlier this year.