VMS Closes US$ 350m Private Equity Fund II
VMS Asset Management has made a final closing of its second China Private Equity Fund, VMS Investment Fund II LP (“Fund II”), with a total capital commitment of US$ 350m on 30 June 2020.
Fund II focuses on two major consumer sectors: Healthcare and TMT/New Services, capturing vast opportunities set arise from China growth. Fund II’s investment strategy centered around the growing demands of Chinese consumers, with a focus on those local and global companies which are benefitting from China’s consumption-led economy in the selected sectors.
Apart from the key cornerstone investors, Fund II also received capital commitments from new investors. Asia continues geographically to represent the core investor base of VMS with a strong support of corporates and family offices in the region.
Fund I was first launched in 2015, together with Legend Capital with a total fund size of US$100m. Fund I is expected to be fully divested next year. In the past few years, VMS team has further expanded with dedicated sectoral expertise in-house and has formulated additional strategic partnerships globally.
Benny Chong, Founder and Chairman of VMS Group, commented “We are very pleased with how the team has grown and is excited about the funds’ achievement to date. We are very dedicated on building industry leaders by identifying and partnering with high-quality management teams, and to add strategic value to our portfolio companies to assist them with their business development. We thank the support of our existing investors and will continue to diversify our institutional investor coverage globally”.
VMS Investment Fund II, LP was first launched in 2018 and has been fully invested with twenty portfolio companies. Fund II diligently reflected our investment strategy in the selected sectors and has been performing very well. COVID-19 has expedited the business growth of certain portfolio companies in e-services and Healthcare.
If you would like to hear the latest updates on the Firm and the Fund, please feel free to contact our Investor Relations team at IR@VMSIG.COM.