Trustar Capital backs Rootnet

Trustar Capital (formerly known as CITIC Capital Partners) has made an investment in Rootnet, a China-based IT system provider for the financial industry.

Trustar Capital (formerly known as CITIC Capital Partners) has made an investment in Rootnet, a China-based IT system provider for the financial industry. No financial terms were disclosed.

PRESS RELEASE

(Hong Kong, 16 June 2021) Trustar Capital (formerly known as CITIC Capital Partners, a private equity affiliate of CITIC Capital Holdings Limited) is pleased to announce that it has completed its investment in Beijing Rootnet Technology Co. Ltd. (“The Company” or “Rootnet”).

Founded in 2000, Rootnet is one of the leading IT system providers in the financial industry with the most comprehensive product offerings and the strongest innovative capabilities in China. The company provides core trading systems and solutions designed for financial institutions such as securities firms, mutual funds and private funds, and has consistently ranked among the top players in multiple product areas. The company has successfully built an exceptional R&D team, and sophisticated products that have been widely used by leading foreign financial institutions in China. It has been rated “China’s Top 100 Most Competitive FinTech Companies” and “Zhongguancun FinTech Companies Top 30” , among other technological awards for many consecutive years.
Rootnet’s Co-founder and CEO Wanzhen YU, said: “China’s securities industry used the last 30 years to complete the learning cycle and understand the market, for which the same has taken our foreign peers 100 years. It is our privilege to participate in this development process and invaluable for us to master deep market knowledge. The development of China’s securities industry is still at its nascent stage, and we see huge room and upsides for development in the future. Trustar Capital is renowned for its forward-looking strategies and has led many landmark investments, especially in the financial sector. I truly believe that Trustar Capital’s strong backing is pivotal in driving Rootnet to further capture China’s securities industry tailwinds, and to build a brighter future for the company.”

Yichen ZHANG, Chairman and CEO of CITIC Capital Holdings Limited, said: “As the trading products of China’s capital market become increasingly diverse with rigorous standards and complex trading requirements and regulations, securities firms that are expanding to meet the robust growth of the market will need trusted and innovative partners like Rootnet. Over the years, Rootnet has built high-quality and cutting-edge solutions that help financial institutions cover every need in the entire business process. It has established high industry barriers, an excellent reputation and highly loyal customers. We are pleased to form an in-depth partnership with the company, and to fully support Rootnet in growing their business with our rich sector resources.”

In recent years, China’s fintech industry has undergone great changes, and the COVID-19 pandemic has accelerated the digital transformation of financial institutions. It is imperative to rely on fintech for all-round innovation and empowerment among financial institutions including securities firms, asset management firms, and financial holding companies. Compared with international financial markets, China’s financial industry’s IT investment is still relatively low, leaving huge space for growth.

Financial regulators have been looking for top-notch scientific and technological innovation to effectively manage systemic risks facing the industry. Looking into the future, technology will continue to have significant impact on different aspects for the financial industry, and will become new force to drive the transformation of the industry, and prevent financial risks.

Trustar Capital believes strongly in the prospects of the financial services and technological innovation.

Prior to Rootnet, Trustar Capital’s investments in the related field include: AsiaInfo, Linklogis, JD Technology, Megvii Technology, Anlogic, Anker Innovation, Centec Networks, XtalPi. In the future, Trustar Capital will continue to focus on investment in technology sector, and plays its role in empowering the technological and innovative capabilities of the capital market and its contribution to the economy.

Note: PricewaterhouseCoopers and Haiwen & Partners provide financial and legal advisory services to Trustar Capital respectively.

About Rootnet
Founded in 2000, Rootnet is one of the leading IT system providers in the financial industry with the most comprehensive product offerings and the strongest innovative capabilities in China. The company provides core trading systems and solutions designed for financial institutions such as securities firms, mutual funds and private funds, and has consistently ranked among the top players in multiple product areas. The company has successfully built an exceptional R&D team, and sophisticated products that have been widely used by leading foreign financial institutions in China. It has been rated “China’s Top 100 Most Competitive FinTech Companies” and “Zhongguancun FinTech Companies Top 30” , among other technological awards for many consecutive years.