ICBC Credit Suisse S&P500 Index Fund Receives Authorization

Industrial and Commercial Bank of China (Europe) S.A. (ICBC Europe) says its ICBC Credit Suisse S&P China 500 Index Fund has been authorized by the Luxembourg regulator, marking the first UCITS product to access China via Luxembourg Renminbi Qualified Foreign Institutional Investor (RQFII) quota, according to an announcement.

Venture-Backed FXiaoKe Launches $20M China SaaS Fund

Beijing-based mobile sales management tool FXiaoKe has teamed up with IDG Capital Partners, Northern Light Venture Capital, and China Soft Capital to launch a US$20 million investment fund to invest in the Software as a Service (SaaS) sector in China, according to a news article posted on the company’s Weibo account.

Fosun, Zhejiang Government Jointly Launch $1.6B FoF

Chinese conglomerate Fosun Group and the Zhejiang provincial government have jointly launched a fund-of-funds (FoF) with a fundraising target of RMB10 billion (US$1.6 billion) to focus on cross-border deep value investment opportunities and help drive economic upgrade of the province.

Tembusu Partners, Bona Film Launch $100M Media Fund

Singapore-based private equity firm Tembusu Partners and Yu Dong, chairman of NASDAQ-listed Chinese firm distributor Bona Film Group Limited, have launched a US$100 million investment fund to invest in China’s media and entertainment industry, according to an emailed statement. Singaporean media entrepreneur Calvin Cheng is also a backer of the fund, which is to be based in Singapore. Cheng put the deal together.

Kingsoft, Xiaomi To Launch $33M Intellectual Property Fund

Beijing-based Chinese security software firm Kingsoft Corporation Limited says it plans to establish a RMB200 million (US$33 million) fund to invest in intellectual properties in China, according to a regulatory filing. The fund will be jointly established by a subsidiary of Kingsoft, a subsidiary of Chinese smartphone maker Xiaomi Inc., and another entity connected with Xiaomi’s founder, Lei Jun. Lei Jun is also the co-founder and chairman of the board of Kingsoft.

Qatar Investment Authority To Launch $10B Fund With CITIC Group

Qatar Investment Authority (QIA), Qatar’s sovereign wealth fund, says it has signed a memorandum of understanding with Chinese state-owned investment company The CITIC Group to establish a US$10 billion fund to invest in the region, according to an official statement. His Excellency Ahmad Al-Sayed, CEO of QIA, made the announcement at the opening of the Credit Suisse Fifth Annual Emerging Markets Leadership Forum in Beijing. The fund will be a 50:50 joint venture between the two parties. QIA is open …