DeHeng Advised NIPPON China on Completing Investment

in a Private Equity Fund

2021-06-23

Recently, a private equity investment fund completed the second round of delivery, bringing its scale to more than RMB 300 million. Its cornerstone investor was an entity designated by NIPPON, a world-renowned paint manufacturer. The main investors of the fund include Redbud Capital, a well-known and professional VC Fund of Funds in China; NIPPON China; Solvay Group, a global leading chemical company; and the entity designated by Shanghai Jinshan District State Asset Supervision and Administration Commission.

The fund was initiated by Richland Capital as the GP and manager, and received RMB 50 million from NIPPON China in the first round of investment. The fund mainly invests in such industries as new materials, high-end equipment, advanced manufacturing, pan-semiconductor and digital technology (industrial Internet).

As the legal counsel for NIPPON China for this deal, the DeHeng team was led by partner Zhang Zhonggang, with primary support from lawyers Nie Bomin, Wu Jing, Liu Xinyu and Wang Ting. They provided the client with legal due diligence on the fund manager, design and demonstration of the fund structure, assistance in reviewing or revising the bilingual fund transaction documents and auxiliary documents in Chinese and English, deal negotiation, and assistance in completing the delivery.