CICC

CICC (China International Capital Corporation) is a leading Chinese investment bank with a significant presence in global capital markets. Its direct investment activities are primarily managed through CICC Capital, a dedicated private equity platform established in 2017. CICC Capital has rapidly grown to become one of the largest and most influential private equity firms in China, managing a diverse portfolio of funds that span venture capital, growth equity, buyout, and real estate strategies. This arm plays a crucial role in CICC's broader financial services ecosystem, enabling the firm to engage in direct equity investments alongside its traditional investment banking and asset management operations.

CICC Capital's investment mandate is broad, targeting high-growth companies across various strategic sectors. Key areas of focus include TMT (Technology, Media, Telecom), healthcare, advanced manufacturing, consumer goods, and financial technology. The firm invests across different stages, from early-stage venture rounds to more mature growth equity and pre-IPO opportunities. As of recent reports, CICC Capital manages assets exceeding RMB 300 billion, which translates to approximately $40-45 billion USD, underscoring its substantial financial capacity. Its extensive investment activities have led to a portfolio of over 600 companies globally, demonstrating its widespread influence and commitment to fostering innovation and industrial upgrading.

When it comes to direct equity investments, CICC Capital typically participates in significant funding rounds, often co-investing with other institutional investors. While the exact "first check" size can vary widely depending on the specific fund (e.g., venture vs. growth) and the stage of the company, their involvement generally signifies substantial capital injection. For venture and growth-stage companies, a typical first cheque from CICC Capital could range from approximately $5 million for promising early-growth opportunities up to $100 million or more for larger, more mature growth equity deals. Their strategic approach often involves leveraging CICC's extensive network and industry expertise to support portfolio companies in areas such as market expansion, strategic partnerships, and eventual public listings.