Beijing-based asset management firm CDH Investments is seeking to secure about $1 billion in dollar and yuan funds via its venture and growth capital arm, CDH VGC.
The firm is holding discussions with backers to secure a dollar-denominated fund of $500 and is aiming to secure the first tranche of commitments by the first half of 2019.
CDH VGC is also launching a yuan-denominated fund with a target size of approximately $448 million. With the funds to be raised, the firm intends to invest in sectors including healthcare and logistics.
Further, the dollar fund will supplement its onshore investments by focusing on Chinese firms using overseas structures such as variable-interest entities and other innovative and high-growth sectors, notably logistics and artificial intelligence.