HONG KONG – China-based private equity company Boyu Capital, which has invested in the nation’s tech giants including Jack Ma’s Ant Group, is raising a new Beijing-centric fund that targets as much as $6 billion.
A source said its fifth and largest US dollar-dominated fund will close in the near term.
This is seen as a test of investor appetite at a time when heightened oversight of China’s tech firms clouds the near-term outlook of those companies.
This comes after authorities’ suspension of Ant’s Shanghai and Hong Kong dual listing in November last year, delaying the hefty returns early investors such as Boyu could have expected from the biggest IPO in the world.