ARIE CAPITAL GROUP GRANTED REGULATORY APPROVAL IN CHINA TO LAUNCH VENTURE CAPITAL AND PRIVATE EQUITY
ARIE Capital becomes one of a handful of foreign-owned financial institutions to achieve both its PFM and QFLP Licence in China
London & Nanjing, 21 April 2021: Today ARIE Capital Group, a leading entrepreneurial financial services and investment group, has announced that it has been granted approval for its Private Fund Management (“PFM”) licence from the Asset Management Association of China (“AMAC”), and its Qualified Foreign Limited Partner (“QFLP”) licence by the Tianjin Free Trade Zone Bureau of Finance.
These two licences are a significant achievement for ARIE Capital Group and its business in China, where it plans to launch several venture capital and private equity funds. Under the QFLP licence it is now able to raise up to $120m from Tianjin Municipality’s investment quota, as well as additional capital from international investors that can be converted into RMB as contributions to RMB funds, and then converted back to other currencies upon exit. In addition, the PFM license allows ARIE to offer onshore multi-asset private funds (such as Private Equity and Venture Capital Funds) to both institutional and high-net-worth investors in China.
“This is a huge achievement for ARIE Capital Group to be granted both these licences in China”, said Simon Tobelem, CEO, ARIE Capital Group. “Not only do these enable us to launch a number of RMB funds, but it is also a significant affirmation for the business and what we are trying to do in China. A lot of work and planning has gone into being granted these licenses, and we have seen many far bigger and more established players fail to achieve what we have done along the way, so I have to congratulate our team in Nanjing and look forward to building on this success”.
The funds are expected to target several different geographical and sectoral markets, with a particular focus on medical devices, deep tech, agritech, and clean technologies.
“We have seen a huge increase in the number of foreign-owned financial institutions trying to break into the Chinese market over the last couple of years, so for ARIE Capital Group to be one of the first to be granted its licenses is both a huge achievement and an honour”, said Gianni Jiang, General Manager, ARIE Ventures China. “We are looking forward to building on our success in China over the past 6 years by launching new funds and working with local and international partners to create value from investments”.
ARIE Capital Group has been operating in China for the past six years. In 2019, it opened its new China headquarters in Nanjing, and has recently partnered with the Jiangning Development Zone (“JNDZ”) to launch a China-Israel fund, helping the best Israeli technology companies to establish their base in Nanjing and expand into the Chinese market. ARIE plans to launch a series of similar funds in partnership with local institutional investors over the next 18 months.
For more information, please visit https://www.ariecapital.com/arie-capital-nanjing.
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Notes to Editors
About ARIE Capital Group:
ARIE Capital Limited is a financial services group with a cross-border focus. The Group has two primary business units: ARIE Finance, a native digital banking service based on a unique proprietary core banking platform, and ARIE Ventures, which concentrates primarily on venture capital investments and providing advisory and fund management services, with a particular focus on helping start-ups expand into the Chinese market. In 2019, ARIE Capital established ARIE Capital Nanjing as its new headquarters in China. https://www.ariecapital.com/