Allan Zeman, founder of Lan Kwai Fong Group, is raising up to US$500 million for a fund that will invest in lifestyle start-ups in China, China Money Network reports.
The fund focuses on investing in lifestyle and consumer projects, where the parent group has unique expertise and deep connections to help them grow, Zeman told the financial media outfit in an exclusive interview.
Last summer, LKF Capital, an investment arm of Lan Kwai Fong Group, hired Laurence Ip, formerly senior vice president at CLSA’s private equity division, as executive director of the unit.
The current fundraising effort is the first time LKF Capital is seeking external money, Zeman said, noting that there are too many exciting new start-ups emerging in China.
Zeman said he is also considering raising a real estate fund to tap opportunities in unique property projects in China, according to the report.
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