HONG KONG, China, Nov. 20 /CNW Telbec/ - Export Development Canada (EDC)
today announced that it will invest up to CAD 7.5 million in CMIA China
Fund III L.P., a private equity fund managed by CMIA Capital Partners
Pte. Ltd. based in China and Singapore.
The fund's investments will be directed towards companies undertaking
projects in China with sourcing requirements that match the capabilities of
"EDC's first equity transaction in China offers an exciting new avenue
for Canadian companies to access mid-market business opportunities in China,
including activities in key emerging Chinese cities," said Eric Siegel,
President and CEO of EDC. "CMIA will work closely with EDC to develop
opportunities for procurement, strategic partnerships and technology transfer
between CMIA portfolio companies and Canadian companies."
This year EDC marks the 10th anniversary of its permanent representation
in China (Beijing), which was expanded last year with a second representative
CMIA Capital Partners was established in 2003 and has key offices in
Shanghai, Hong Kong and Singapore. Its CMIA China Fund III L.P. is a
USD 300 million fund that will provide development capital to mid-sized
companies in China, primarily in the mining, agri-business, automotive,
healthcare and natural resources sectors. The fund is expected to source most
of its transactions from high-growth second-tier cities in the coastal
provinces of Jiangsu, Fujian, Shandong and from the interior provinces of
Chongqing and Gansu. The average investment size will range from USD
EDC is Canada's export credit agency, offering innovative commercial
solutions to help Canadian exporters and investors expand their international
business. EDC's knowledge and partnerships are used by 6,400 Canadian
companies and their global customers in up to 200 markets worldwide each year.
EDC is financially self-sustaining and is a recognized leader in financial
reporting, economic analysis and has been named one of Canada's Top
100 Employers for seven consecutive years.
For further information:
For further information: Phil Taylor, Public Affairs, Export Development
Canada, (613) 598-2904, firstname.lastname@example.org; Winston Kan, Chief Representative,
China, Export Development Canada, (011) 8621-6279-8432, email@example.com