75% Investment in KSA
35% Fund Size ($52.5M) - FDI
A Limited Partnership Fund in HK (LPF)
Responsibilities
25%
R&D Center / Regional HQ / Manufacturing Plant in KSA
KSA investee companies
A joint venture in HK act as the GP
Hong Kong GP
Chinese provincial government fund
R&D Center / Regional HQ / Manufacturing Plant in HK
LPs
80% by Hong Kong GP
20% by Saudi GP
$32M anchor investment from HK government
$19M from Chinese provincial government fund & global investors
65% Fund Size ($97.5M) - raised from KSA
Anchor investment from HK government ITVF
From Saudi family offices
$1.5M from CICC
HK investee companies
Hong Kong law stipulates that an LPF can only have one GP. The Hong Kong GP and the Saudi GP establish a joint venture (JV) in Hong Kong to act as the solo General Partner for the new fund. The GP (JV) does not need to be licensed in Hong Kong. The Hong Kong GP is appointed as the investment manager because it holds a fund license in Hong Kong.
Funding and granting intellectual property & exclusive operational authorization in GCC market
Global investors
$1.5M from SNB group
Saudi GP
Funding and granting intellectual property & exclusive operational authorization in GCC market
25% Investment
100% Fund Size $150M (Hard cap $300M)
will invest on terms no more favorable than those of the Fund
Saudi JV partnersor co-investors
