London Asia, a China-focused merchant bank, has invested £6.9 million ($12.7 million; €10 million) in deals from its £50 million Chinese Private Equity Fund, according to a company statement.
The investments are: £1.9 million in China New Energy, a provider of equipment and technologies for ethanol production; £2.9 million in Beijing-based China Synergy Real Estate Limited; and £2.1 million in China Biofoods, a health food products company.
The latest deals bring the total number of investments London Asia has made in China to five, totalling £9.3 million, according to the statement.
Simon Littlewood, director of London Asia Chinese Private Equity Fund said: “There is potential to make follow on investments in those deals as the companies develop and we have a number of other deals which we expect to close in the near future.”
London Asia is planning to launch Mongolia and Vietnam focused funds with local partners as part of its strategy to manage a range of Asian funds.