July 26, 2022
Gibson, Dunn & Crutcher LLP advised BAI Capital, a spin-out from Bertelsmann Asia Investments (which is a captive unit of the eponymous German media company), on the final closing of BAI Capital Fund 1, with total capital commitments of $700 million for the fund and its affiliated co-investment vehicles.
The fund focuses on investing in China-based companies with the potential either for global expansion in the consumer retail and services, financial technology, media and content innovation, and web3 and metaverse sectors, or to achieve structural transformation within China in the areas of infrastructure technology, electric vehicles, autonomous driving, and industrial upgrades driven by enterprise software.
The Gibson Dunn investment funds team was led by partner John Fadely and included associate Xuanyi Liu and Registered Foreign Lawyer Alicia Shi. Partner Dan Zygielbaum and associate Jennifer Fitzgerald advised on tax aspects.