Hong Kong-based Baring Private Equity Asia has invested $42 million for a significant minority stake into PERA Global, a Chinese technology company.
The transaction makes Baring Asia the second largest shareholder in PERA Global after the company's founder, Gordon Shaw, a Baring Asia managing director, said in an interview. It also marks the largest investment into China’s information technology industry as well as its software industry this year, according to a statement from the company.
Based in Beijing, PERA Global develops and retails computer-aided technology solutions for the research and development of products for industries including aerospace, civil engineering and telecommunications.
The capital will be used to scale up and strengthen PERA Global’s management abilities and research and development, according to the statement.
The investment was made out of Baring Asia's Fund 4, which closed on $1.52 billion this May, surpassing its $1 billion target. The fund is triple the size of the firm’s third fund raised in 2006.
“Following PERA Global, Baring Asia has committed to 2 other deals in the retail sector for a combined investment of $150 million,” Shaw said.
The firm currently has $2.5 billion in assets under management. It has offices in Hong Kong, Shanghai, Beijing, Singapore and Tokyo.