Legend Capital has closed its eighth fund at a hard cap of $500 million. LC Fund VIII’s limited partners include sovereign wealth funds, private pension funds, corporate investment funds, and family offices. Atlantic-Pacific Capital was the global placement agent.
NEW YORK & LONDON & HONG KONG–(BUSINESS WIRE)–Atlantic-Pacific Capital Inc., one of the largest privately-owned global placement agency and advisory firms, is pleased to announce the final closing of LC Fund VIII (the “Fund”) at the hard cap of $500 million of capital commitments. The Fund received strong support from existing LPs and has further diversified its investor base, securing commitments from institutional investors in the Middle East, Europe, and Asia including sovereign wealth funds, private pension funds, corporate investment funds, and family offices. Atlantic-Pacific Capital served as the exclusive global placement agent.
Legend Capital (“LC”) is one of China’s most reputable venture capital and private equity fund managers with a renowned brand being supported by its strategic partner, Legend Holdings. Founded in 2001, LC currently operates from five offices in Beijing, Shanghai, Shenzhen, Hong Kong and Seoul, with Beijing as its headquarters. LC manages approximately $8 billion of AUM and invests in growth stage TMT and consumer companies, covering internet and innovative consumption, enterprise IT service, advanced manufacturing, deep technology, and healthcare sectors. Adopting a highly institutionalized and systematic approach to investing, Legend’s team of 60 investment professionals across sector-specialized teams is further supported by a management oversight platform which offers high value-add to companies through its 15-person senior in-house consultants’ group, as well as legal and portfolio risk management teams.
Hao Chen, President of Legend Capital, said, “We are honored to have the ongoing support from existing investors and new backing from a strong group of global limited partners. We appreciate Atlantic-Pacific Capital’s involvement, which began in 2015 with the launch of Fund VII and has comprised both capital raising advisory support and introductions to a diversified range of investor relationships.”
Vincent Ng, Partner at Atlantic-Pacific, said, “It has been a real honor to continue working with our long-standing client, Legend Capital. This relationship has flourished across a number of different funds and other opportunities. We hope to have the privilege to continue collaborating with this esteemed group of investment professionals.”
Charles Wan, Partner at Atlantic-Pacific, said, “Despite the highly challenging global fundraising environment amidst COVID-19, the Fund achieved a fundraising with excess demand above its hard cap. This is a real testament to Legend Capital’s quality, consistency and persistence as a top tier private equity firm in China.”
About Atlantic-Pacific Capital, Inc. (www.apcap.com), Member FINRA and SIPC
Since its founding in 1995, Atlantic-Pacific has organically grown into a global organization with an established brand in the private equity community. Over the last two decades, the firm has executed on over 110 capital raising assignments aggregating over $75 billion for an extraordinary group of alternative asset managers. Typical projects have included private equity (buyout, turnaround, mezzanine, distressed, special situations, energy, royalties/IP), real estate and infrastructure fund placements, as well as secondary advisory mandates and direct private placements. Atlantic-Pacific uniquely provides global marketing distribution and project management execution using a focused and customized approach. With experienced professionals on the ground in New York, Stamford, Chicago, Atlanta, San Francisco, London, Tel Aviv and Hong Kong, the firm maintains a global network of trusted relationships with influential institutional investors.
About Legend Capital (www.legendcapital.com.cn/)
Legend Capital, founded in April 2001, is the independent venture capital investment subsidiary under Legend Holdings. Legend Capital focuses on innovation and growth enterprises with operations in China or related to China. By 2020, Legend Capital has invested in over 500 companies, more than 70 are successfully listed on domestic or overseas capital market, besides, more than 60 companies achieved exit through M&A.