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Investments

59

Portfolio Exits

9

Funds

6

About Huasheng Capital

Huasheng Capital, a.k.a. Huaxing New Economic Fund and Huaxing Medical Industry Fund is a private equity fund established by China Renaissance that focuses on investments in TMT, logistics, finance and healthcare sectors.

Huasheng Capital Headquarters Location

Beijing, Beijing,

China

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Latest Huasheng Capital News

Chinese Apartment Rental Service Provider Ziroom Raises $622M Series A Round Led By Warburg Pincus, Tencent And Sequoia China

Jan 17, 2018

Chinese apartment rental service provider Ziroom has raised a RMB4 billion (US$622 million) series A round led by Warburg Pincus, Tencent and Sequoia Capital China, according to its WeChat official account. Equity investment firm General Atlantic,  Chinese venture capital firm Source Code Capital, private equity firm Strait Capital and Huasheng Capital, Chinese property developer Sunac and Chinese agribusiness firm New Hope Group also participated in the round. The company claims this is the biggest financing round ever raised by a long-term rental firm in China. The fund raising gives the company a RMB20 billion (US$3 billion) valuation, according to local media. Founded in 2011, Beijing-based Ziroom leases apartments before renovating the spaces and subleasing them to tenants. It manages 500,000 rooms and serves 1.2 million tenants in nine cities around China. It also has operates eight service apartment buildings. “Ziroom is China’s biggest professional asset management firm, and has advantages in customer acquisition, big data application and rental management,” said Julian Cheng, managing director and co-head of China at Warburg Pincus. “After interviewing hundreds of tenants, we found Ziroom’s reputation is higher than the industry average.” He also noted that with China’s rapid urbanization, about 70% of the newcomer to large and medium cities prefer rental over owning a property. Proceeds from the funding will be used to expand the company’s existing businesses in Beijing, Shanghai and Shenzhen, as well as adding new operations in cities such as Hangzhou, Wuhan and Guangzhou. It will also upgrade its services to include maintenance and house moving as well as invest in technologies such as smart furniture and big data, according to its CEO Xiong Lin. The Chinese government has been pushing the development of the home rental market to address housing demand from urban newcomer. Last August, 12 major cities in China introduced pilot programs that allows tenants of rental properties to enjoy the same access to public services as property owners. With government backing, the sector is attracted increased investments. Last September, Warburg Pincus committed a US$183 million follow-on investment into Nova Property Investment Co. Ltd, a Chinese rental apartment operator and asset manager. Last July, IDG Capital and Chinese hotel management company Huazhu Hotels Group Ltd. led a US$50 million pre-A round in Chengjia Apartment , an apartment rental start-up.

Huasheng Capital Investments

59 Investments

Huasheng Capital has made 59 investments. Their latest investment was in Insgeek as part of their Series D on September 9, 2022.

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Huasheng Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/23/2022

Series D

Insgeek

$12.68M

No

3

8/31/2022

Series B

AUTOST.

Yes

2

7/20/2022

Series D

Lihe Extract

Yes

1

3/28/2022

Series B

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$99M

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10

1/21/2022

Series A

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$99M

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10

Date

9/23/2022

8/31/2022

7/20/2022

3/28/2022

1/21/2022

Round

Series D

Series B

Series D

Series B

Series A

Company

Insgeek

AUTOST.

Lihe Extract

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Amount

$12.68M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

3

2

1

10

10

Huasheng Capital Portfolio Exits

9 Portfolio Exits

Huasheng Capital has 9 portfolio exits. Their latest portfolio exit was MGI Tech on September 09, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/9/2022

IPO

$99M

Public

4

4/19/2022

IPO

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$99M

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10

12/30/2021

IPO

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$99M

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10

6/23/2021

IPO

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$99M

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10

6/8/2021

IPO

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$99M

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10

Date

9/9/2022

4/19/2022

12/30/2021

6/23/2021

6/8/2021

Exit

IPO

IPO

IPO

IPO

IPO

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

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Sources

4

10

10

10

10

Huasheng Capital Fund History

6 Fund Histories

Huasheng Capital has 6 funds, including Huaxing New Economic Fund USD I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

Huaxing New Economic Fund USD I

1

Huaxing New Economic Fund RMB III

10

Huaxing New Economic Fund RMB II

10

Huaxing Medical Industry Fund RMB

0

Huaxing New Economic Fund RMB I

10

Closing Date

Fund

Huaxing New Economic Fund USD I

Huaxing New Economic Fund RMB III

Huaxing New Economic Fund RMB II

Huaxing Medical Industry Fund RMB

Huaxing New Economic Fund RMB I

Fund Type

Status

Amount

Sources

1

10

10

0

10

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