Venture Capital: Chinese Venture Capital Firm Eastern Bell Capital Hauls In US$2B For Two New Funds

December 28, 2021 | News, Venture Capital
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Eastern Bell Capital raised the funds for a yuan and dollar fund respectively.

Eastern Bell Capital, a Chinese VC firm, announced the raise of more than 13 billion yuan (US$2.04 billion) in its latest funding round through its yuan-denominated RMB Fund VI and dollar denominated USD Fund II. The company said the round represented one of the largest raises among Chinese VCs this year. Post this latest raise, Eastern Bell has 27 billion yuan (US$ 4.2 billion) of assets under management. (Eastern Bell Capital)

The USD Fund II attracted commitments from global blue-chip sovereign wealth funds, pension funds, insurers, corporates, family offices and fund of funds.

RMB Fund VI saw participation by LPs including government funds, fund of funds, banks, and financial institutions, with a significant increase in the number of insurers and corporate investors.

Starting from an investing focus on logistics when it launched in 2010, the firm has branched out into industrial digitalization and consumption upgrades. These span the supply chain, consumer, enterprise services, data, and technology sectors.

Eastern Bell: Examples of portfolio investments

  • Supply chain – ZKH Industrial Supply, YiHeDa (301029.SZ), Titan Technology (688133.SHA), Jia Li Chuang, Xingyun Group and more.
  • Consumer – Xingsheng Youxuan, HARMAY, XPeng (XPEV), BananaIn, Usmile and more.
  • Enterprise services, data, and technology – SkyEye, XForcePlus, Going-link, and Asinking.

USD Fund II and RMB Fund VI will continue to invest in similar themes as their predecessor funds, namely Industrial Internet and supply chain innovation in China, with the aforesaid two major investment focuses on industrial digitalization and consumption upgrades, the company said in a statement.

Related Story: European VC Fund Partech Closes $750M Second Growth Fund

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