In the time of unprecedented uncertainties, Oceanpine Capital Fund II successfully held its $400M final closing of Fund II as scheduled.
Partnering with world-class entrepreneurs; investing in DeepTech arena and innovative growth companies in both TMT and Biotech sectors that are the driving force of the future economy in the New Norm.
BEIJING, Dec. 28, 2020 — This is the first time Oceanpine has sought funding from external LPs since its inception in Dec 2016. That year, the firm set up its $400 million debut fund using GP’s internal capital. Founder Dave Chenn, who previously established a multi-billion-dollar conglomerate company in 2005, has participated as an LP in 15 technology-focused venture capital and private equity funds, and has co-invested in a number of highly successful deals.
The final closing LPs included the GP management team itself and other top-tier international institutional investors from U.S. and Asia, including reputable insurance pockets, prominent technology company leaders (mostly listed) and their founders, asset management allocators, family offices, and seasoned Midas List venture capitalists.
Oceanpine has invested over $1 billion across more than 40 companies in both China and the US with Fund I and other investment vehicles. Among them are AI computing-power specialist Enflame Technology, Ansun Biopharma, Horizon Robotics, Black Sesame, and US graphical database platform TigerGraph. Fund I has been fully invested and has secured two full exits and four IPOs with 50% DPI. Three more companies will file for IPO in the next twelve months.
Oceanpine is investing its Fund II in a number of innovative companies following DeepTech-focused remit of its predecessor. About $200 million has already been deployed across ten deals, including a Series B for Enflame, drug developer Apexigen, Enterprise Software provider XforcePlus, leading AI solution provider Black Sesame, innovative biopharmaceutical leader Apollomics, advanced bio-tech player Creative Biosciences, Series C & C+ for clinical stage biologics company Sinovent, AI pharmaceutical technology company XtalPi, next-gen AI recruiting super platform Hiretual, and a top domestic IC equipment supplier BEST. Five more companies are expected to go public within 2021.
About Oceanpine Capital
With offices in Beijing (headquarters), Hong Kong and Silicon Valley, Oceanpine Capital was formed in 2016 to invest in category-defining market leaders in semiconductor, AI, 5G, IoT, big data, enterprise software, as well as Biotech companies. Our sweet spots are early to late growth companies that distinguish themselves with applied disruptive technologies and proven innovative business model that address mass market demand.
Oceanpine’s seasoned and indigenous investment team, combined with in-depth industrial knowledge, network, and business relationships with top business enterprises in China and U.S., enable us to have significant advantage in deal creation and value-add service. Team’s capital market insights and experience is another critical aspect of Oceanpine’s competitive advantage. As a result, Oceanpine is able to deliver tremendous value to the portfolio companies and grow together.
Michelle Chen
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