Amid IPO Boom, China’s Top Tech Dealmaker Raising $2.5 Billion for Investment Funds

China Renaissance, the boutique bank launched by influential tech dealmaker Fan Bao, is in talks to raise about $2.5 billion for two new investment funds that largely will target private tech companies, two people with knowledge of the matter said. The size of the funds shows how successful initial public offerings by Chinese tech startups and the country’s economic recovery are boosting domestic and global investor appetite for more private deals.

The Hong Kong-listed China Renaissance, whose wide-ranging operations include investment banking and brokerage services as well as private equity investment management, plans to raise as much as $1 billion for a new U.S.-dollar fund and about 10 billion yuan ($1.52 billion) for a new Chinese-currency fund, according to the people. Both the U.S.-dollar fund and the yuan fund are the biggest ever for the firm.