Dalian Huayuankou Economic Zone and ARC China held a signingceremony on February 9th to form the Liaoning Huayuankou InvestmentFund (the "Fund"), which will be established through a joint investmenttotaling RMB 1 billion (approximately US$146 million). This is thefirst private equity fund in Dalian in partnership with the localgovernment, and the primary focus will be on investment in theindustrial economy. Mr. Dai Yulin, Dalian's Vice Mayor, Mr. DongChengfa, the Director of the Management Committee of HuayuankouEconomic Zone, and Adam Roseman, Founder and Chief Executive Officer ofARC China, attended the signing ceremony. Dalian, with a registeredpopulation of over 6 million and is one of two biannual locations ofSummer Davos.
The establishment of the Fund is not only a significant step in building aregional financial center in Dalian but also makes progress on aspecific initiative in the development of Huayuankou's new industrialbase and provides a means of supporting the goals of development ofboth industrial and financial infrastructure.
"New materials, new energy, consumer-oriented sectors, media,healthcare, natural resources, industrial technology, and aerospacewill be the focus of this Fund for the 10 year duration," said Mr.WangHai, Director of the Economic Development Bureau in Huayuankou EconomicZone. "This Fund can provide capital to forthcoming projects and thedevelopment of local enterprises. As the enterprises grow, the Fundwill make profits for the investors through a listing on the GrowthEnterprise Market or other exchange," he added. Having the support ofthe local government should increase the impact of the Fund and resultin more high-tech enterprises relocating to the Huayuankou EconomicZone.
ARC China will partner with the Westly Group, one of America'sleading clean technology venture capital firms, to promote the growthof China's burgeoning green technology market. The Westly Group is ledby former California State Controller (Chief Financial Officer) andeBay executive Steve Westly, and 30-year investment banking and venturecapital veteran Mike Dorsey.
ARC China is a wholly-owned foreign enterprise focusing oninvestment in China's domestic consumption-oriented high-growthenterprises in the developing Tier II and III cities. According to theagreement, ARC China will provide services for the development ofHuayuankou area including the overseas marketing of local companies,consulting local companies on accessing foreign capital markets, andproviding local companies with opportunities for international mergersand acquisitions and technology transfer. ARC China will expand accessfor companies in the Huayuankou Economic Zone to foreign capital andfacilitate an increase in local employment.
Mr. Dai Yulin said that the cooperation with ARC China is verypromising and there is much potential for success. He stated that hewould like to welcome the establishment of the Fund in Huayuankou onbehalf of the municipal government. "Dalian is the financial center ofnortheast China and 2010 is the year for private equity," he added.
Contact: Viola Liu at vl@arcchina.cn.
"New materials, new energy, consumer-oriented sectors, media,healthcare, natural resources, industrial technology, and aerospacewill be the focus of this Fund for the 10 year duration," said Mr.WangHai, Director of the Economic Development Bureau in Huayuankou EconomicZone. "This Fund can provide capital to forthcoming projects and thedevelopment of local enterprises. As the enterprises grow, the Fundwill make profits for the investors through a listing on the GrowthEnterprise Market or other exchange," he added. Having the support ofthe local government should increase the impact of the Fund and resultin more high-tech enterprises relocating to the Huayuankou EconomicZone.
ARC China will partner with the Westly Group, one of America'sleading clean technology venture capital firms, to promote the growthof China's burgeoning green technology market. The Westly Group is ledby former California State Controller (Chief Financial Officer) andeBay executive Steve Westly, and 30-year investment banking and venturecapital veteran Mike Dorsey.
ARC China is a wholly-owned foreign enterprise focusing oninvestment in China's domestic consumption-oriented high-growthenterprises in the developing Tier II and III cities. According to theagreement, ARC China will provide services for the development ofHuayuankou area including the overseas marketing of local companies,consulting local companies on accessing foreign capital markets, andproviding local companies with opportunities for international mergersand acquisitions and technology transfer. ARC China will expand accessfor companies in the Huayuankou Economic Zone to foreign capital andfacilitate an increase in local employment.
Mr. Dai Yulin said that the cooperation with ARC China is verypromising and there is much potential for success. He stated that hewould like to welcome the establishment of the Fund in Huayuankou onbehalf of the municipal government. "Dalian is the financial center ofnortheast China and 2010 is the year for private equity," he added.
Contact: Viola Liu at vl@arcchina.cn.
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