The Venture Capital unit of Siemens Financial Services (SFS VC), successfully accomplished a China local setup (Siemens Venture Capital Co., Ltd.) devoted to Renminbi (RMB) onshore deals. The new set-up will enhance SFS VC’s presence in China. With its existing US Dollar (USD) investment capacity, SFS VC can now participate in both USD offshore and RMB onshore venture capital deals.
SFS VC established its presence in Beijing back in 2006 to look for investment opportunities in the Asian Pacific region. Since then, SFS VC has identified and financed young companies in China during their start-up phase and provided established companies with additional capital for their growth during the expansion phase.
The new RMB fund is part of SFS VC global platform, which is headed by Ralf Schnell. SFS VC as well as the new RMB fund primarily focuses on four sectors: Energy, Healthcare, Industry, and Infrastructure & Cities. Madeline Song, Global Senior Partner and Head of Asia Australia of SFS VC and Klaus Grünfelder SFS VC global CFO have been respectively appointed CEO and CFO of the new company. Combined with this new RMB fund, SFS VC will be able to invest RMB into pure domestic companies to further enhance Siemens’ capabilities of venture capital investment through exposure to participate in RMB onshore deals, in addition to the existing USD investment capacity.
“We leverage Siemens’ global strength to help portfolio companies expand into new regions, initiate development partnerships, and conclude marketing partnerships”, said Ralf Schnell, Head of SFS VC.
“SFS VC’s positive experience created us a lot of confidence in the Chinese market. We will work closely with the local entrepreneurs and proactively participate in the innovations in China”, said Madeline Song.
SFS VC has been active in the venture capital market since its establishment in 1999. It invests in early-stage technology companies, which have innovative potential in energy, industry, infrastructure & cities and healthcare sectors.