Hong Kong
04 January 2017
Reporter: Stephanie Palmer
Chinese fintech fund of funds launches
A consortium of Chinese companies have joined forces to establish a 10 billion-renminbi Asia FinTech Merger and Acquisition Fund of Funds, focused on supporting and developing fintech enterprises.

Led by financial technology service provider Credit China Fintech Holdings, the partners include state-owned firms and private companies.

The fund will target mergers and acquisitions in the fintech sector, and intends to nurture enterprises in the industry.

According to Credit China FinTech, China has been out-performing other Asian markets in terms of speed of development, complexity and scale of fintech solutions.

Sheng Jia, executive director of Credit China FinTech, said: “Leveraging on the fund partners’ experiences and competitive advantages in brand recognition, industry resources and expertise, the fund aims to invest in innovative fintech enterprises with potential and help them to be the fintech leaders with our technical know-how and capital resources.”

The fund’s state-owned partners include China Huarong International, the Shanghai Xinhua Publishing Group and Jilin Province Investment Group.

Private partners include the China Cultural Industry Association, New Times Trust Co, the Shenzhen China Create Group, N-Securities Co, Beijing Yongyu Investment and Tianjing Borong.

More fund services news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Lombard Risk dominates Canada with new mandate win
18 July 2017 | London | Reporter: Drew Nicol
Lombard Risk Management has tightened its grip on the Canadian banking market with another major bank signed up to its flagship Colline collateral management solution
UBS secures Chinese private fund management license
14 July 2017 | Hong Kong | Reporter: Barney Dixon
UBS Asset Management has been granted a private fund management license from the Asset Management Association of China
AIMA launches updated guide to fund admin services
13 July 2017 | London | Reporter: Stephanie Palmer
The Alternative Investment Management Association has published a new guide to fund administration, aimed at alternative managers choosing between providers
Falcon group launches blockchain asset management service
12 July 2017 | Zurich | Reporter: Stephanie Palmer
Falcon Group has become the first Swiss private bank to offer a blockchain asset management solution, through a partnership with Bitcoin Suisse AG
Bravura wins Scottish Friendly mandate
12 July 2017 | Glasgow | Reporter: Stephanie Palmer
The Scottish Friendly Assurance Society, UK mutual life office, has gone live with the Bravura Solutions Sonata administration platform, for its life and pensions business
Private debt added to SimCorp Dimension
10 July 2017 | London | Reporter: Stephanie Palmer
SimCorp has added a private debt module to its SimCorp Dimension investment platform, in partnership with Danish pension fund PKA
Citi launches big data platform for custody and fund services
30 June 2017 | New York | Reporter: Katherine Brown
The platform concentrates on data analyses across Citi custody and fund services products and will be broadened to include investor services
More fund services news