SAIF Partners Participates in a Funding Round for Zhong An Online Property Insurance (Asia)
Source: Asian Venture Capital Journal | Author(s): Tim Burroughs
China-focused venture capital firm SAIF Partners China has participated in a RMB5.8 billion (approximately US$942 million) round of funding for Zhong An Online Property Insurance, a China-based property insurance company. A vehicle controlled by investment bank Morgan Stanley led the investment, and other participants in the round included: China-based investment bank China International Capital Corporation, China-focused asset manager Keywise Capital Management and high net worth individuals that invested through a platform managed by private equity firm CDH Investments. Zhong An, which currently sells property insurance and manages claims online, plans to extend its business into areas such as life insurance and asset management.