IFC commits $45M to China's Hosen Capital and Long Hill Capital
By Li Dongmei
The International Finance Corporation (IFC), the investment arm of the World Bank, has committed US$45 million to a Hosen Capital fund and another vehicle managed by Long Hill Capital Management, according to disclosure filings.
IFC is committing up to US$30 million to Hosen Investment Fund III, the latest vehicle from Hosen Capital, a Chinese private equity fund with a strong focus on agriculture and food industry.
The fund, led by Chris Wang and Alex Zhang, is looking to invest in companies that support Chinese consumption and seeks to raise US$400 million in total.
IFC committed US$20 million in the fund's successor, New Hope Agriculture and Food Fund II. L.P.
The core team forming Hosen Capital was initially part of New Hope Capital, the financial business arm of New Hope Group and managed financial assets and equity investments.
Hosen Capital is headquartered in Beijing, with offices in Chengdu, Shanghai and Guangzhou.
At the same time, IFC is committing up to US$15 million in a deubt fund of Long Hill Capital Management, a venture capital fund focused on health and consumption services investments in China.
The fund aims to provide capital to early stage services-oriented companies in healthcare, education, travel and big data. No other information is available on this entity.