Fundraising of the Year – Large Cap
(Fund size - $2 billion and above)
Primavera Capital Fund IV (Primavera Capital Group)
Primavera Capital Group closed its fourth fund, which has a mandate to invest in China and Asia as well as in regionally relevant global companies, on target at USD 4bn in February 2023. The fund launched in May 2021 and much of the capital was raised prior to the outbreak of war in Ukraine. LPs include sovereign wealth funds, pension funds, banks, insurance companies, asset managers, and family offices. Primavera raised USD 3.4bn in the previous vintage. Since then, the firm has broadened its footprint, adding offices in Silicon Valley and Singapore to existing bases in Hong Kong and Beijing.