Infinity Group Announces the Establishment of the Chongqing Infinity Funds

CHONGQING, China, August 25, 2011 -

The Chongqing Infinity RMB fund is Infinity‘s 11^th city-level RMB fund and marks Infinity‘s continued movement westward

Infinity Group, a pioneer and the leader in cross border RMB and dollar private equity platforms with a China focus, announces the establishment of the Chongqing Infinity Funds. The Funds are cooperations between Infinity Group and the Chongqing Banan District People’s Government and will be both in RMB and US dollars.

The Chongqing Infinity RMB Fund is Infinity’s 11th city-level RMB fund.  It is also Infinity’s first fund in China managed by its wholly foreign owned enterprise (WFOE). The target size of the RMB Fund is 6 billion RMB, including 500 million RMB for the first round. Banan’s state-owned enterprise Chongqing Highway Infrastructure Construction Limited, together with three private-sector enterprises, Chongqing Zongshen Industrial Group, Chongqing Sifang Concrete Limited and Chongqing Dianya Real Estate Development Limited, together committed a total of 200 million RMB at the first closing.

In addition, Infinity’s dollar fund, under Chongqing’s foreign investment private equity funds trial plan, has a target size of 1 billion USD. Established in Banan, the dollar fund plans to make its first investment in Beijing Wanbo Tiandi Web Technology Limited (”Tsinghua Wanbo”).  

Tsinghua Wanbo is Cisco’s earliest strategic training partner, and has helped to train a large number of Cisco engineers. Wanbo is also a training partner and technology service provider for Nortel, SUN, HP and other top-tier IT enterprises.  Among other things, this round of investment is intended to promote Wanbo’s plans for IPO.

Infinity Group also announced today that it has signed strategic cooperation agreements with Banan District and Zongshen Group, respectively.

Infinity Group founder and managing partner, Mr. Amir Gal-Or said, “We highly appreciate the firm support of the Chongqing Finance office, the Foreign Trade and Economic Commission, and the Banan District government which has created the “Banan-speed”. China’s future is in the West, and Chongqing is the center of the Southwest, the pearl on the Yangtze River, which has great potential to combine speed and height for future development. Chongqing is actively building its financial center along the Yangtze River by encouraging the large-scale growth of local companies and their subsequent IPOs.  It has also created a well-established and attractive foreign investment system for foreign investors.  This macro-economy trend is creating a platform with great potential for foreign investors and private equity firms.”

Mr. Gal-Or continued, “Infinity is willing to support the “China-out” strategy of larger-scale local Chinese companies. The timing is right when Chinese companies start to venture overseas for strategic acquisitions, business upgrades and global growth. An example of this is ChemChina’s recent acquisition of IDB Group’s Machtashim Agan, Israel’s largest fertilizer producer. As Infinity Group is backed by the IDB Group, and has a global cultural business network via its outbound acquisition fund, Infinity Group is confident in its ability to guide Chinese companies with an interest in  acquiring , outside of china, high-quality companies, assets as well as advanced technologies and IP, all with a well-protected deal structure.”

About Infinity Group

Infinity Group is an RMB fund pioneer and the leader in cross border China, RMB and dollar private equity platforms and technology cooperation. It is also the founder of the Infinity IP Bank, the hub for IP development and commercialization in China. Infinity Group currently manages thirteen funds, eleven in China. Infinity has a portfolio of 45 companies and has made 22 successful exits. Infinity, which has the greatest number of RMB funds in China, was founded by the China Development Bank and IDB Group (the largest conglomerate in Israel).  Infinity serves as a bridge for Chinese companies that want to integrate technology and know-how to become industry leaders domestically as well as to compete internationally, and for non-Chinese companies, with proven technology, seeking to capitalize on the Chinese market. Sectors of focus include: medical device, pharma and healthcare services, information technology, agritech, materials, as well as water and clean technology and energy. Recent high profile activities include the technology acquisitions from Israeli companies Pulsar and Ghost, investments in Haolianluo (Beijing, China), United Water Corporation (Shanghai, China) and Weigo (Shangdong, China), as well as exits from Tegrity, Orsus, FuturaGene and Teledata Networks. Other China-related exits include Shellcase, Nanomotion, and a partial exit from Digital China. Infinity currently has offices in Beijing, Changzhou, Chengdu, Chongqing, Harbin, Hong Kong, Jining, New York, Ningbo, Shanghai, Shijiazhuang, Suzhou, Tel Aviv and Tianjin. For more information, please visit www.infinity-equity.com or please contact Marjie Hadad at marjie.hadad@infinity-equity.com or call +972-54-536-5220. For Chinese language inquiries, please contact Joey Zhu at joey.zhu@infinity-equity.com  or at +8613601212411.

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