C CAPITAL SUCCESSFULLY COMPLETES THE CLOSING OF ITS PRIVATE EQUITY FUND III, REACHING A SIGNIFICANT MILESTONE

HONG KONG,Sept. 12,2023 -- Hong Kong-basedC Capital announces the closing of its Private Equity Fund III,bringing the total investments from both its principal fund and associated co-investment vehicles to over US$250 million,its largest private equity fund to date.

This fund has garnered significant capital commitments and has been upsized from its initial target thanks to demand from new and current C Capital investors.

Over 20 respected investors are joining Fund III,including funds of funds,financial institutions,and renowned family offices from Asia Pacific,Middle East,and Europe,as well as other regions.

"The broad consortium of investors we have attracted for this latest fund not only provides a boon in terms of capital injection but also stands as an endorsement of C Capital's track record and forward-thinking investment paradigms," said Ben Cheng,the firm's chief executive officer and president.

Following a similar investment strategy as its predecessor private equity funds,Fund III will invest in global growth-stage companies across the consumer and technology sectors.

Approximately 35% of the portfolio companies the firm has invested in have reached unicorn status according to the valuation of their respective latest round of financing as of 31 August 2023. This roster features names such as Casetify,Xiao Peng,NIO,Sensetime,Shein,Agile Robots,Lalamove,amongst others.

About C Capital

C Capital invests globally. The firm's current and targeted investments include a private equity fund,a private credit fund and a blockchain hedge fund.

Founded in 2017,the firm has built a successful track record in investing in over 60 disruptive businesses in the consumer and technology sectors globally.

As of 31 August 2023,the firm deployed over US$1.3bn capital across threestrategies.