January 7, 2022, Hong Kong - INCE Capital (“INCE”) announced today the final closing of its second US dollar-denominated fund with around US$700 million in commitments across two funds, INCE Capital Partners II, L.P. (“Fund II”) and INCE Opportunity Fund, L.P.. Fund II was over-subscribed and the final fund size of $478 million exceeded the initial target. INCE now has more than $1 billion in commitments under management across its managed funds.
INCE received strong support from both existing and new top-tier global institutional investors including Duke University, Carnegie Mellon University, University of Pittsburgh, Kaiser Permanente, Dietrich Foundation, Commonfund, Unicorn Capital, Axiom Asia and Siguler Guff. All of the university endowments, foundations and fund of funds re-upped in INCE’s Fund II.
Edward J. Grefenstette, President and Chief Investment Officer of The Dietrich Foundation, said, “Despite the global uncertainty and challenging capital market, we continue to believe in the innovation, entrepreneurship in China and Chinese venture capital as a great asset class. We have a high level of confidence that INCE partners, with their deep experience and thoughtfulness, will navigate through these uncertain times exceedingly well.”
“We are grateful to our existing limited partners’ continued confidence and support and are also delighted to welcome several new institutional investors to the INCE family,” JP Gan, founding partner of INCE Capital, said, “This is a recognition of our investment philosophy and track record, and our ability to partner with talented and diligent entrepreneurs to build fast growing and extraordinary companies in the World’s second-largest economy.”
Since its establishment on July 1, 2019, INCE has invested in 24 companies. Some of them have become “unicorns” and emerging sector leaders. INCE will continue to focus on early to expansion stage investments in technology, Internet, and consumer industries. INCE’s founding partners, JP Gan, Steven Hu, Stella Zhou and Paul Keung are supported by teams in Shanghai, Beijing, Hong Kong, China, and the US.
About INCE Capital
Founded in 2019, INCE Capital is a venture capital firm with an investment focus on early to expansion stage companies that spearhead innovation in technology, Internet, and consumer industries. The letters “IN” embody the firm’s commitment to make intelligent innovative investment decision, or “CE” in Chinese. INCE’s mission is to “empower the future greats”.
INCE now has more than US$1 billion in commitments under management across its managed funds. The investor base consists of the world’s leading university endowments, foundations, family offices, and funds of funds. INCE currently has offices in Shanghai, Beijing, Hong Kong, China, and the US.
Visit the official website for more information: www.incecap.com
This is released by INCE Capital. Press contact: firstname.lastname@example.org