Warburg Pincus LLC is eyeing another USD 2 billion for a new China private equity fund to invest following its latest USD 12 billion global fund, according to media reports citing people familiar with the matter. The global private equity giant is also expected to launch the fundraising formally on June 1, aiming to close the fund by December.
Warburg Pincus' latest deals in China this year include joining a US$220 million series B round in D&J China, a developer of business parks, headquarter parks and modern industrial facilities in China, and leading a US$100 million series C round in same-city courier service O2O (online-to-offline) platform Yunniao.me.
It also joined a US$550 million bet in UCAR, a mobile app-based chauffeured car service firm launched by Chinese car rental firm CAR Inc. last year and participated in two rounds totaling US$260 million in Mofang Apartments, an apartment rental service franchise.
Warburg Pincus has invested over US$6.5 billion in more than 90 Chinese companies since it entered the Chinese market in 1994.
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