Siemens sets up China domestic investment vehicle for RMB venture capital investment
MUNICH, March 15, 2013-- 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.
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The Financial Services unit of Siemens (SFS) is an international provider of business-to-business financial solutions. SFS helps facilitate investments, providing commercial finance, project and structured finance with specific asset expertise in the energy, healthcare, industry, and infrastructure & cities markets. Employing more than 2,900 employees worldwide, SFS supports Siemens as well as other companies with their capital needs and acts as an expert manager of financial risks within the Siemens company. By leveraging our financing expertise and our industrial know-how we create value for our customers and help them strengthen their competitiveness. Beyond that, financing is key in creating trust for technological solutions – and acts as a key enabler when it comes to the market launch. As of September 30, 2012, the total assets amounted to €17.4 billion. For more information, visit: www.siemens.com/finance.
The Venture Capital unit of SFS – and corporate venture capital organization of Siemens – invests in early-stage technology companies and established growth companies, focusing on the energy, healthcare, industry, and infrastructure & cities markets. The aim is to identify innovative solutions from which Siemens can profit and plays a key role in Siemens' global innovation network. To date, the company has invested more than €800 million in over 150 companies and 40 venture capital funds.
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