Gaocheng Capital (“Gaocheng”) recently closed the first US dollar fund with over $300 million in commitments from an array of global leading institutional investors including endowments, foundations, sovereign wealth funds, pension funds, family offices, and insurance companies, exceeding its original fundraising target. Gaocheng now has more than RMB 4 billion in assets under management across US dollar and RMB funds.
Gaocheng Capital focuses on growth-stage private equity investment opportunities in technological innovation and enterprise service sectors in China. Based on fundamental research and deep industry expertise, Gaocheng has led a number of investments in leading enterprise service companies, including AI unicorn company Yitu, retail-tech SaaS company Youzan (HK 8083), fintech company Bairong, tax and finance software and service company Huisuanzhang, mobile security company Zhizhangyi, BI company Smartbi, and IT education company 51CTO, etc.
Gaocheng Capital is also one of the first batch of private equity funds in China to sign the United Nations Principles for Responsible Investment. With a core value of “Think Strategic, Stay Authentic”, Gaocheng upholds the investment philosophy of creating long-term value and applies ESG concepts to the investment decision-making process. The firm is committed to generating sustainable returns for global investors and creating long-term value for the society.
“We would like to thank our investors for the trust they have placed in us and in the growth potential of our investments.” Jing Hong, Founding Partner of Gaocheng Capital and former Partner of Hillhouse Capital, said. “The oversubscription of our new fund underscores investors’ optimism on the huge opportunities in China’s technology development and enterprise digitalization. Gaocheng will always be the supporter and accelerator of China’s innovation, utilizing our experience and resources to help innovative companies achieve their growth objectives and become world-class enterprise service companies.”
