NYPC signed a memorandum of understanding (MoU) of general cooperation with the Beijing Municipal Bureau of Finance for the establishment of an RMB-denominated private equity (PE) fund.
According to the MoU, the fund will invest primarily in high growth Chinese companies in the healthcare, clean tech, education/culture and consumer products sectors.
Under the terms of the MoU, the Beijing Municipal Bureau of Finance intends to provide support to the fund by helping it obtain capital as well as introducing the fund to strategic partners, potential investors and local investment projects.
David Kopp, CEO of NYPC, said: “We are very pleased to execute this MOU and look forward to working with local SMEs to help nurture them into leading companies. Under our cooperation agreement, the fund will prioritize investments in Beijing-registered and government-supported companies to enhance the industry structure and promote the local economy.”