Spring Capital Exits From Shanghai Vanzo Communication

Shanghai-listed Hubei Kaile Science And Technology has acquired mobile Internet service provider Shanghai Vanzo Communication Technology, which is backed by China-focused private equity firm Spring Capital, for approximately RMB860 million (US$140 million), according to a securities filing.

It is unclear when Spring capital Asia Fund GP, Ltd. made the investment in Vanzo.

Spring Capital, with offices in Shanghai and Hong Kong, is founded by Vincent Chan, former co-head of Asian private equity at JAFCO Asia.