PRESS RELEASE

Orchid Asia Group Reaffirms Support for Hong Kong Innovation and Technology

HONG KONG — Orchid Asia Group (“Orchid Asia”), a private equity investment firm with more than US$8 billion in assets under management, reaffirms its commitment to supporting Hong Kong’s innovation and technology ecosystem through long-term investment in business growth and innovation.

Orchid Asia supports the priorities set out in Hong Kong’s First Five-Year Plan (2026–2030) and the 2026 Policy Address, including the role of patient capital in advancing biotechnology and other innovative technologies.  With its headquarters in Hong Kong and an investment and research team across Mainland China, the firm seeks to translate these priorities into enterprise growth and quality employment.

Investment highlights in 2025 - 2026

Food technology.  An Orchid Asia portfolio company has established a Hong Kong joint venture, hired local staff and leased office and logistics facilities.  Within three months, it reached more than 600 food and beverage outlets, helping local businesses digitalise their supply chains.

Oncology.  An innovative oncology portfolio company has applied for a Hong Kong listing and plans to recruit local finance and biotechnology talent following its initial public offering.

Rare and genetic diseases.  Orchid Asia also supports a clinical-stage company developing medicines for rare and genetic diseases.  The firm is exploring a potential collaboration between the company and the Hospital Authority at Queen Mary Hospital, with the aim of connecting global innovation with Hong Kong’s life and health sciences sector.

Through these investments, Orchid Asia aims to support start-ups, attract enterprises and investment to Hong Kong, and direct long-term capital towards biotechnology and the wider economy.

Ends

About Orchid Asia Group

Founded in 1993, Orchid Asia Group is a private equity investment firm with more than US$8 billion in assets under management.  Headquartered in Hong Kong, the firm has an investment and research team across Mainland China.

Media enquiries:

Trevor Chan

Email:  tchan@orchidasia.com

General line: +(852) 2115 8810

Chinese PE Orchid Asia mops up $1.3b for seventh fund

By Tanu Pandey

DealStreetAsia

03 January 2018

Chinese private equity firm Orchid Asia Group has raised $1.3 billion for its seventh fund Orchid Asia VII, exceeding the $900-  million target announced at the time of the fund’s launch in July last year.

According to a regulatory SEC filing by the firm on Tuesday, the date of first sale for the offering was December 15 last year.

It is not clear if the fund is still open for more commitments. There was no response to an emailed query to Orchid Asia on  whether $1.3 billion marks the fund’s final close.

The PE firm’s seventh growth equity fund expects to make equity investments between $20 and $150 million in 20-25  companies with a minimum enterprise value of $50 million, a disclosure from Pennsylvania Public School Employees Retirement  System had said earlier.

Pennsylvania’s retirement fund, according to the disclosure, was looking to make a commitment of $75 million to Orchid Asia VII.  It had made a similar commitment to Orchid Asia’s sixth fund.

Chinese investor Orchid Asia rakes in $1.3bn for Fund VII to mark largest vehicle

 By Fraser Irving

AltAssets

Chinese buyout house Orchid Asia has pulled in $1.3bn for its latest fund, AltAssets can reveal.

The firm has no capital left to register for Orchid Asia VII after receiving commitments from 81 investors, according to a filing with  the SEC.

The capital raised amounts to the firms biggest ever vehicle, and comfortably beats the $920m raised for the predecessor  vehicle  in 2014.

It is likely that the vehicle will continue the firms tried-and-tested strategy of investing in businesses across Asia, but with a laser  focus on China.

It seeks to invest in “expanding domestic enterprises” which have good growth prospects across the consumer services,  products, outsource manufacturing and services sectors, according to its website.

The private capital house first raised a fund in 1993, and since then has raised an additional four, increasing each time.

It has invested in up to 52 businesses since its inception, including in Nirvana Asia, La Chapelle and LaFarge.

Back in October, AltAssets reported that the firm had launched a venture capital vehicle and was seeking up to $900m.

Copyright © 2018 AltAssets

Orchid Asia to hold $900m 'one and done' on Fund VII

By Carmela Mendoza

Private Equity International

11 October 2017

Orchid Asia Group, a China growth equity-focused firm, is expecting to hold a first and final close for its seventh vehicle by  November.

The Hong Kong-headquartered investment firm is seeking $900 million for Orchid Asia VII, according to a document prepared by  advisor Hamilton Lane for Pennsylvania Public School Employees' Retirement System.

Capital from the fund will be invested in about 25 companies with ticket sizes of between $20 million to $150 million. The firm  primarily targets Chinese companies in the consumer services and products sector, outsourced manufacturing, retailing, high  tech, media and healthcare services sectors.

Orchid itself will commit 5.6 percent of commitments or a minimum of $50 million to Orchid VII, as well as 7 percent or $68  million  for co-investments, the document notes.

PSERS' board approved a commitment of up to $75 million Orchid VII, according to its website. The pension has already backed  Orchid Asia's previous funds, committing $40 million to the 2011-vintage Fund V and $75 million the 2014-vintage Fund VI, a  separate document from PSERS shows.

Fund V delivered a 1.7x money multiple and 28.4 percent net internal rate of return, while Fund VI delivered 1.1x multiple and  10.4 percent net IRR as of 30 June, according to the document.

Investors in Orchid Asia's previous funds include Oregon State Treasury, Maryland State Retirement and Pension System,  Alaska Permanent Fund and Commonwealth Superannuation System, according to PEI data.

Orchid Asia manages over $3 billion of assets and has offices in Hong Kong, Shanghai, Beijing and Guangzhou. Its portfolio  includes travel company Ctrip, ladies apparel company La Chapelle and personal care products manufacturer Weimeizu.

Orchid Asia declined to comment on fundraising.

Reported by Winnie Liu, AVCJ

July 11, 2016

CVC Capital Partners has offered to buy out Hong Kong-listed Nirvana Asia, Asia’s largest funeral services firm, in a cash and stock swap deal worth $1.1 billion.

According to a regulatory filing, CVC is providing two options - either in cash or in a combination of cash and share swap scheme - for existing shareholders to realize their investments. For the cash arrangement, the PE firm is offering shareholders HK$3 (US 0.39) per share - the same price when Nirvana listed on the Hong Kong Stock Exchange in 2014 - in cash, which represents a 22.4 % premium over Nirvana's last trading price.

As part of the deal, CVC is making the offer in cash and shares of its investment vehicle to founder-led vehicle Rightitan, which owns 42.69% of the company, and PE backer Orchid Asia Group, which holds a 21.64% stake. Under this program, each Nirvana share could be exchanged for 2.10 preference shares and 0.03 ordinary shares in the CVC-held buyout vehicle, plus HK$1.37 in cash, the filing said. The founder and Orchid Asia will receive HK$1.58 billion and HK$800 million from CVC, respectively, for offloading a portion of shares.

Other investors are offered a payment purely in cash, including Transpacific Ventures, which will sell its entire 10.66% stake to CVC for HK$863 million.

The shares of Nirvana will be delisted from the Hong Kong bourse upon completion of the transaction. Nirvana's founder Tan Sri Kong, and CVC will be the two largest shareholders in the company. The founder will continue in his role as CEO and lead the existing management team, CVC said in a separate statement.

Founded in 1990, Kuala Lumpur-based Nirvana is the largest integrated funeral and bereavement care provider in Asia. It provides burial plots, niches and tomb design and construction services, as well as funeral services. The company has operations in six countries across Asia, including Singapore and Indonesia, and employs over 700 staff across the region.

Revenue came to $148.58 million last year, down from $165.06 million in 2014, while net profit was up from $44.65 million to $45.38 million during the same period.

J.P. Morgan and Clifford Chance advised CVC, while Nirvana was advised by UBS and Sullivan and Cromwell. CIMB is providing debt financing.