AGIC Capital closes US$1 billion debut fund

US Dollar
US Dollar

AGIC Capital, a European-Asian private equity firm, has announced the final close of Fund I, with US$1 billion in commitments.

The fund will continue to target investments in European small and mid-cap companies in the areas of intelligent manufacturing, high-end equipment, advanced materials, medical technologies, and environmental protection technologies, to assist their expansion into growing Asian markets, with a specific focus on China.

“The demand for technology products in China is growing fast, driven by China’s economic reforms and by massive investments into upgrading its industrial infrastructure,” says Henry Cai, chairman of AGIC.

In January 2016, AGIC partnered with ChinaChem and Guoxin to acquire the global machinery supplier KraussMaffei Group, then the largest outbound investment from China into Germany. AGIC made its first solo investment shortly thereafter, in June 2016, by acquiring a large majority stake in Gimatic Srl, an Italian supplier of end-of-arm tools for various applications in industrial automation.

Additionally, AGIC will open a new office in London in the first quarter of 2017. The expansion will bring AGIC’s global offices to five in total, along with Munich, Beijing, Shanghai, and Hong Kong.