Summer Atlantic Capital Ltd. Signs Strategic Agreement with Virtue Capital for Financing New Automotive Joint Ventures in China
Summer Atlantic Capital Ltd. and Virtue Capital enter into a strategic agreement to jointly invest in cutting-edge automotive technologies from North America and Europe into China through Joint Ventures.
KOWLOON, Hong Kong, Dec. 23, 2020 /PRNewswire-PRWeb/ -- Summer Atlantic Capital Ltd. is proud to announce a new strategic agreement with Virtue Capital ("Virtue"), a new private investment firm based out of China with a world class management team with a proven track record of success, focusing on industrial manufacturing particularly in the automotive industry. Virtue Capital's management team has a deep understanding of automotive trends and a winning track record including the formation of iconic joint ventures such as Beijing Hyundai and Beijing Mercedes-Benz. Under this agreement, Virtue Capital will not only invest in Summer Atlantic's JVs, but they will also participate as senior advisors and board members.
Sebright Chen, Chairman & CEO of Summer Atlantic Capital Ltd. addresses the importance of the agreement:
"Summer Atlantic's internal finance team has deep-rooted and established relationships with 15 of the largest state-owned funds across China. The funds participate across a wide array of industries and investment sizes from 2M RMB to 2B RMB, ensuring our ability to finance all the different types of technology we bring to China. At the same time, Summer Atlantic is building relationships with private funds, such as Virtue, to bring additional expertise and resources to ensure the success of our Joint Ventures. The combination of both state-owned funds, private funds, and key corporate and individual investors ensures the best possible blend of financing and business acumen."
About Summer Atlantic Capital
Summer Atlantic Capital is a Hong-Kong based entity with a sister company, Summer Atlantic China (our private equity group) based in China, and a North American marketing arm, Summer Atlantic US. We focus on discovering companies with advanced technologies that are beneficial to the Chinese market. We work with the owners of these technologies to structure JV partnerships with strategic Chinese entities or individuals that have expertise in the respective field. In addition, Summer Atlantic arranges for the necessary capital to finance the joint ventures, which could include direct participation by our sister company, Summer Atlantic China, private individuals, business entities, or even state-owned funds. Summer Atlantic evaluates the feasibility of these technologies and how they could potentially enhance the Chinese consumer while at the same time simultaneously adding GDP growth into the Chinese economy. Summer Atlantic takes an active role from the formation of the JV all the way up to and including operations and the development of an exit strategy for the JV's shareholders. Summer Atlantic Capital consists of a growing core team of over 25 executives with C level experience across a wide range of industries interacting with some of the world's largest corporations. Our Executive team prides itself on their proven track record and rolodex of relationships throughout industry and government.
http://www.SummerAtlantic.com / http://www.SummerAtlantic.us
About Virtue Capital
Virtue Capital is a new Chinese private investment firm led by a group of senior executives with over 140 years of combined experience in the automotive industry. Virtue Capital's team has led Joint Ventures for Beijing-Hyundai and Beijing-Benz, and has an extensive history of senior executive roles across major companies in the automobile space such as Jaguar Land Rover (China), Beijing Chrysler Jeep, Volkswagen China, and the chairman and President of John Deere China. Virtual Capital has recently closed their first financing round, raising a total of 152 million RMB, with the expectations to close another 250 million RMB in the coming months.
Media Contact
Dave Peters, Summer Atlantic Capital Ltd., +1 8662024462 Ext: 3, [email protected]
SOURCE Summer Atlantic Capital Ltd.
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