AGIC Capital, the Sino-European private equity firm focused on technology and healthcare investments, has hold a final close for its first fund with $1bn (€940m) in commitments.

Henry Cai, founder of AGIC Capital
Henry Cai, founder of AGIC Capital

AGIC’s debut fund was launched in March 2015. It targets small and mid-cap European “Industry 4.0” companies with unique technologies to help them expand into China.

The success of the fund-raising reflects the endorsement of our investment philosophy and recognition of our track record to date,” Henry Cai, founder and chairman of AGIC, said in a statement.

“We will continue to act as the bridge for European companies with advanced technologies, particularly in Germany, Austria, Switzerland, Italy, France and the Nordics, helping them tap into the exciting opportunities in China and across Asia.”

The firm has also announced that it will open an office in London in Q1 2017, complementing its presence in Munich, Beijing, Shangai and Hong Kong.

Track record

In January 2016 AGIC participated in one of the largest ever Chinese direct investments into a German company. Together with China’s largest chemicals group ChemChina and Guoxin International Investment Corp, AGIC bought machinery manufacturer KraussMaffei from Onex Corporation for a cash enterprise value of €925m.

Shortly after that, AGIC completed its first solo investment with the acquisition of a majority stake in Italian robot tool maker Gimatic in a €100m deal.

Further reading:

Why a European-Chinese firm bought a robot maker