International Finance Corp. (IFC), a member of the World Bank Group, is considering an investment of up to US$25 million in Genbridge Capital’s debut vehicle, according to a regulatory filing by the firm. Genbridge Capital is a Chinese investment firm founded by former members of the mergers and acquisitions division of JD.com Inc.
Last December, Genbridge said it was planning to raise US$500 million for a maiden fund, named GenBridge Capital Fund I L.P., to invest in Chinese start-ups. The vehicle will target Chinese start-ups operating in the consumer sectors and has already invested in one unnamed fresh food retailer. The investment vehicle’s proposed pipeline consists of consumer goods distributors, retailers and Internet technology development firms, according to the filing.
As part of the capital commitment, IFC will have a seat on the fund’s advisory committee. IFC is will also provide funding to Genbridge’s portfolio companies through co-investments when these companies require additional capital.
Genbridge Capital was founded in 2016 by Robert Chang, formerly vice president of strategy and investment at JD.com. Prior to that, he was a vice president at Chinese private equity firm Capital Today.
Additional information about Genbridge Capital was not available as the firm’s website is currently under construction.