Fundraising, Venture Capital

Tsing Capital Launches Fifth China Environment Fund

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Chinese clean-tech venture capital firm Tsing Capital has launched its fifth flagship fund, the China Environment Fund V, L.P., with a fundraising target of US$300 million.

The fund will make venture capital investments in companies with both a nexus to China and focus on clean-tech sectors, according to a company announcement.

Hong Kong-based New Concept Holdings Ltd., which provides environmental protection and construction services, has agreed to be a limited partner in the fund, committing US$5 million.

In 2011, Tsing Capital launched China Environment Fund IV, L.P., raising a total of US$250 million. In 2012, BASF Venture Capital GmbH invested US$5 million in the fund. Other investors included key development financial institutions, renowned family offices, strategic multinational corporations, and Fortune 500 companies.

Founded in 2000, Tsing Capital was China’s first fund management company dedicated to multi-disciplinary sustainable technology investing in China and globally.

The company currently manages two series of funds. It’s China Environment Funds focus on growth-stage investment opportunities in the fields of energy and resources, environmental protection, new materials, and intelligent technologies. Its Smartech Innovation Fund focuses on early stage investment opportunities in the fields of Internet of Things, artificial intelligence and new materials.

This April, it co-led a US$18 million series B round in Sensoro, a China and U.S.-based Internet of Things sensor device and network technology company. Last year, it also co-led a US$26 million funding round in U.S.-based health and hygiene company RayVio Corp.


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