Investor AB made an initial closing of Investor Capital Partners - Asia Fund with committed capital of USD 322 million. The final closing of the fund is expected to take place over the next six to nine months.
The fund was launched in November 1999 to invest in growth capital and management buyouts in well-managed companies in Asia, ex Japan. The investors in the first closing include Investor AB, as well as major European institutions and prominent private investors.The fund is advised by Investor Asia Limited in Hong Kong.
Simultaneously with its first closing, the fund has committed USD 60 million of equity to the acquisition jointly with Ericsson and Hutchison Whampoa of a controlling interest in imGO Limited, a Hong Kong listed company focusing exclusively on mobile data communications.
"Our fund is unique in Asia as it can leverage the operating expertise of Investor AB and its core holdings, which have a network of more than 200 professional managers in the region where they have been operating for more than 50 years. During the next six months, we expect to complete an additional investment in our priority areas: global supply chain, services and leading branded consumer goods," says Galeazzo Scarampi, CEO of Investor Asia Limited.