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RMB500 million Dalian fund for SMEs

Source:   Time:

  Ottawa, Canada – The Balloch China Fund and Dalian Hi‐Tech Venture Capital Management Co. Ltd. announced today the creation of the TBG‐Dalian Growth Fund, a RMB500 million (approximately C$75 million) private equity fund. The signing of the memorandum of understanding took place at the Canada China Business Forum during the state visit to Canada of President Hu Jintao of China.

  The TBG‐Dalian Growth Fund seeks to invest in small and medium‐sized growth companies across a variety of sectors that will further Dalian’s strong economic growth and increase investment between China and Canada. These sectors include software and information technology, advanced materials and manufacturing, cleantech, healthcare and consumer goods and services.

  Howard Balloch, President of the Balloch China Fund said: “The TBG‐Dalian Growth Fund marks the next stage in our strong relationship with the city of Dalian and its leading businesses. Since 2001, we have had the pleasure of helping companies in Dalian and throughout China achieve their goals by raising capital, providing strategic advice and access to foreign partners and technology.”

  Li Weimin of Dalian’s Hi‐Tech Zone stated: “On behalf of the City of Dalian, we are very excited to begin cooperation with the Balloch China Fund. We are confident that the TBG‐Dalian Fund will have tremendous success as a preferred investor in the dynamic environment of Dalian in supporting high growth local companies and joint ventures.” Wang Zhaohua of the Dalian Hi‐Tech Venture Capital Corporation added, “We already have a pipeline of interesting rapidly growing companies and we look forward to being partners with the Balloch China Fund for many years to come.”

  Dalian Hi‐Tech Venture Capital Management Co. Ltd. is owned by the city of Dalian’s Hi‐Tech Zone. Dalian’s Hi‐Tech Zone is home to over 3,600 of China’s most dynamic companies and 800 international corporations, including 62 ‘Global Fortune 500’ companies. Dalian is northeast China’s fastest growing city with a population of 8 million people and an average annual GDP growth rate of more than 12% over the past ten years. Foreign direct investment in Dalian totaled over $6.6 billion in 2009.

  The Balloch China Fund is the private equity affiliate of The Balloch Group (“TBG”), a leading independent advisory and investment banking firm serving clients and investors throughout China and North America. TBG’s 35 professionals provide a range of investment banking services to its clients across a number of industries including natural resources, healthcare, education and cleantech. TBG was ranked the No 1 boutique investment bank in China in 2008 and 2009 by ChinaVenture.


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