| Equity investment includes private equity (PE) | | | | 4.3 Stages |
| investment and venture capital (VC) investment. In | | | | 4.4 Regions |
| 2009, there were 542 equity investments occurred in | | | | 4.5 Chinese and Foreign Investors |
| China, including 114 PE investments and 428 VC | | | | 5. Equity Investment in Key Chinese Industries |
| investments; the equity investment valued US$22.4 | | | | 5.1 Healthcare Industry |
| billion, average PE investment was US$164 million, and | | | | 5.1.1PE |
| average VC investment was US$8.8 million. The | | | | 5.1.2 VC |
| remarkable 19:1 gap between average PE and VC | | | | 5.2 IT Industry |
| investments mainly resulted from the fact that PE | | | | 5.2.1 PE |
| investments are often made in the enterprises that | | | | 5.2.2 VC |
| are making profits and need larger amounts of | | | | 5.3 Energy Industry |
| money for mergers and reorganization, while VC | | | | 5.3.1 PE |
| investments mostly are financial investments made in | | | | 5.3.2 VC |
| the enterprises that are developing or expanding their | | | | 5.4 Internet Industry |
| business and require smaller amounts of money.In | | | | 5.4.1 PE |
| 2009, in terms of the number of equity investments | | | | 5.4.2 VC |
| made in China, the manufacturing industry got the | | | | 5.5 Media & Entertainment Industry |
| largest share (19%), followed by the IT, Internet, | | | | 5.5.1 PE |
| energy, and healthcare industries; in terms of the | | | | 5.5.2 VC |
| amount of equity investments, the financial industry | | | | 6. Key Private Equity Investment Companies |
| got US$18.36 billion, followed by the chain operation, | | | | 6.1 Carlyle |
| energy, manufacturing, food and beverage industries. | | | | 6.1.1 Investments |
| From 2009 to 2010, among the equity investment | | | | 6.1.2 Carlyle Asia Partners III |
| companies in China, PE investment companies are | | | | 6.2 Goldman Sachs |
| mainly foreign-funded companies, while VC | | | | 6.2.1 Profile |
| investment companies are generally Chinese-funded | | | | 6.2.2 Investments and Exits |
| companies. The reason for foreign-funded companies | | | | 6.2.3 Preference for China after the Financial Crisis |
| holding a leading position in the PE sector is: PE | | | | 6.3 CDH |
| investments often involve larger amounts of money, | | | | 6.3.1 Profile |
| and compared with domestic companies, foreign | | | | 6.3.2 Investments |
| companies have more solid financial strength. Famous | | | | 6.4 Warburg Pincus |
| PE investment companies include The Carlyle Group, | | | | 6.4.1 Profile |
| The Goldman Sachs Group, Inc., and CDH | | | | 6.4.2 Investments and Exits |
| Investments. The reason for Chinese-funded | | | | 6.5 New Horizon Capital |
| companies holding a leading position in the VC sector | | | | 6.5.1 Profile |
| is: domestic equity funds were encouraged by the | | | | 6.5.2 Investments |
| launch of GEM, while foreign companies were | | | | 6.6 Baring Private Equity Asia |
| relatively cautious in venture capital activities due to | | | | 6.6.1 Profile |
| the financial crisis. Active VC investment companies in | | | | 6.6.2 Investments and Exits |
| 2009 included Shenzhen Capital Group, Legend Capital | | | | 6.7 CCB International |
| and Shenzhen Fortune Venture Capital Company | | | | 6.7.1 Profile |
| Limited. | | | | 6.7.2 Investments |
| Shenzhen Fortune Venture Capital (Fortune VC) was | | | | 6.7.3 New Funds |
| established on April 19, 2000. Now, it manages seven | | | | 6.8 TPG |
| funds, and is entrusted to manage the fund of nearly | | | | 6.9 Prax Capital |
| RMB3 billion. By June 3, 2010, Fortune VC had | | | | 6.9.1 Profile |
| invested in over 70 SMEs , 11 of which went public | | | | 6.9.2 Investments |
| successfully, including COSHIP Electronics, Talkweb | | | | 6.10 Beijing Hony Future Investment Advisor Limited |
| Information System, Joint-Wit Medical & | | | | 6.11 Hopu Investments Management Company |
| Pharmaceutical, Fujian Sunner Development, EVE | | | | Limited |
| Energy, Aier Eye Hospital Group, ChinaNetCenter, | | | | 6.12 Bain Capital |
| BlueFocus Communication , Sumavision Technologies, | | | | 6.13 CITIC Capital Holdings Limited |
| H&T Intelligent Control, and Kingold Jewelry | | | | 6.14 Trustbridge Partners |
| (NASDAQ-listed). The eleven enterprises plus the | | | | 6.15 Temasek Holdings |
| Xi'an Dagang Road Machinery that was approved the | | | | 7. Key Venture Capital Investment Companies |
| listing by China Securities Regulatory Commission on | | | | 7.1 Shenzhen Capital Group |
| May 28, 2010, are expected to deliver at least a | | | | 7.1.1 Profile |
| 15× ROI on average. | | | | 7.1.2 Investments and Exits |
| | | | | 7.2 Legend Capital |
| Table of Contents | | | | 7.2.1 Profile |
| | | | | 7.2.2 Investments |
| 1. Equity Investment Overview | | | | 7.3 Shenzhen Fortune Venture Capital Company |
| 1.1 Definition | | | | Limited |
| 1.2 Classification | | | | 7.3.1 Profile |
| 1.2.1 Private Equity | | | | 7.3.2 Investments |
| 1.2.2 Venture Capital | | | | 7.4 Kunwu Jiuding Capital Company Limited |
| 1.2.3 Difference between Private Equity and Venture | | | | 7.4.1 Profile |
| Capital | | | | 7.4.2 Investments |
| 1.3 Equity Investment in China | | | | 7.5 Orchid Asia Group Management Limited |
| 1.3.1 Private Equity | | | | 7.5.1 Profile |
| 1.3.2 Venture Capital | | | | 7.5.2 Investments |
| 2. Equity Investment Policies in China | | | | 7.6 SAIF Partners |
| 2.1 National Policies | | | | 7.6.1 Profile |
| 2.2 Regional Policies | | | | 7.6.2 Investments |
| 3. Equity Investment in China, 2009 | | | | 7.6.3 Mass PRIM Investment in SAIF Partners IV LP |
| 3.1 Scale | | | | 7.7 China Science and Merchants Capital Management |
| 3.1.1 Private Equity | | | | Company Limited |
| 3.1.2 Venture Capital | | | | 7.7.1 Profile |
| 3.2 Industries | | | | 7.7.2 Investments |
| 3.2.1 Comparison of PE and VC by Number of | | | | 7.7.3 RMB20 Billion of Liaoning Coastal Economic Zone |
| Investments | | | | Development Fund |
| 3.2.2 Comparison of VC and PE by Amount of | | | | 7.8 IDG Capital Partners |
| Investments | | | | 7.8.1 Profile |
| 3.3 Stages | | | | 7.8.2 Investments |
| 3.4 Regions | | | | 7.9 Intel Capital |
| 3.4.1 PE | | | | 7.10 Sequoia Capital China |
| 3.4.2 VC | | | | 7.11 Green Pine Capital Partners |
| 3.5 Chinese and Foreign Investors | | | | 7.12 Tiantu Capital |
| 3.5.1 PE | | | | 7.13 Cowin Capital |
| 3.5.2 VC | | | | 7.14 iD TechVentures |
| 4. Equity Investment in China, 2010 | | | | 7.15 SB China Venture Capital |
| 4.1 Scale | | | | 7.16 DFJ |
| 4.2 Industries | | | | 8. |