Joint Venture To Provide Up To US$250m For Science And Technology Companies Entering China
Private investment group Equity Partners Fund SPC has signed a joint venture agreement with the MRK Science and Technology Development Company to provide listed public companies with capital to enter the burgeoning Chinese market.
- (1888PressRelease) January 12, 2011 - Under the agreement MRK will act as a single point of contact for all business related work including providing logistics, legal and other services critical to doing business in Jiangsu, a hot spot for economic development and now one of China's most prosperous provinces.
Equity Partners Fund SPC will co-invest amounts from up to USD$250 million into identified listed public companies so they can enter into the Chinese market with a view to retaining capital within the country.
The types of companies the joint venture will target include listed public companies in the IT, telecom, electronics and high tech, media and entertainment, health and public service, pharmaceutical and medical, green and renewable energy and energy efficiency, government, transportation and automotive sectors.
Fund spokesperson Bruce Nelson says the joint venture will help listed public companies access the domestic Chinese market for a range of goods and services and assist them getting into competitive deals.
"MRK is headquartered in The Nanjing International Software and Outsourcing Industrial Park, which it established in 2009 and which has more than 30 companies already operated there, providing the perfect location from which to identify target businesses," Mr Nelson says.
"They will also be able to leverage their established alliances with provincial and municipal administrations and state and foreign owned enterprises to take advantage of the growing domestic market.
"Depending on the success of the joint venture Equity Partners Fund SPC may consider a formal arrangement whereby we open joint offices in China."
Founded in 2005, Nanjing MRK Science and Technology Development provides service and market-oriented platforms for the commercialisation of research findings.
Its core businesses includes the R&D, market development and sales of high-tech products; IT infrastructure outsourcing, software outsourcing and BPO outsourcing; the commercialisation of research findings and related services; the cultivation of IT talents; enterprise diagnosis and management consulting.
Equity Partners Fund SPC generally looks to invest in listed companies with consistent trading volumes for a variety of activities including working capital, acquisitions and other growth opportunities.
The fund focuses on equity investments in public companies with market capitalizations under $1 billion.
The fund's investment guidelines, apart from a company's size and liquidity, require them to have exceptional management and long-term sustainable growth opportunities with the potential to achieve significant milestones over a developmental period.
"While applicants should expect to be able to meet our due diligence program, our funding arrangements are a whole lot simpler than many other avenues such as rights issues and other underwritten issues," Mr Nelson says.
"Ultimately once a company satisfies our requirements we send proposed investment terms and explain the steps required for the company to ultimately obtain the requested funding.
"In volatile and uncertain equity markets this pre-qualification and pre-agreed funding arrangement is superior in most circumstances."
To enquire about Equity Partners Fund SPC go to www.equitypartnersfund.com
To enquire about MRK contact Amir Lupovich, Head of International Business Center, Nanjing International Software & Outsourcing Industrial Parks, MRK Science & Technology Development Co. Ltd., Nanjing, PR of China. Office: +86-25-66912819, Mobile: +86-15850585104, www.njmrk.com, amir.lupovich ( @ ) njmrk dot com
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