BDA advises Investcorp on investment of up to $250m in China Everbright New Economy Fund

BDA is pleased to announce that its client, Investcorp, a global manager of alternative investment products, has made its first private equity investment in China. BDA provided valuation advisory services on Investcorp’s investment of up to $250m in the China Everbright Limited New Economy Fund.

China Everbright Limited New Economy Fund has invested in high-profile companies in Greater China, including:
• one of the world’s largest unlisted mobile e-commerce platforms;
• one of the biggest long-form online video platforms;
• the largest online-to-offline company for consumer services;
• a leading deep-learning artificial intelligence platform;
• a popular short-form mobile video sharing platform;
• one of the leading technology-driven smart retail companies; and
• a leading smart wireless headphone company.

BDA helped Investcorp assess and value these privately-held high-growth assets across Greater China and the US, to support Investcorp’s internal investment process and its external negotiations.

Investcorp partnered with China Everbright, a reputable sovereign-backed asset manager, listed on the Hong Kong Stock Exchange (Everbright, 165.HK). Investcorp has agreed an investment of up to $150m in the second round of the China Everbright Limited New Economy Fund, as well as an additional co-investment right of up to $100m. In the first round, the Fund received an aggregate commitment of $313m from other investors that has been deployed into high-growth Chinese technology companies that operate in a range of market segments from e-commerce and internet services, to smart retail and artificial intelligence.