Lingjun Investment raises $300 million offshore after two-year halt

Lingjun Investment raised more than $300 million from overseas investors, its first offshore fundraising since a two-year halt after a 2024 regulatory crackdown, Hedgeweek reported Oct. 22, citing Reuters.

Lingjun Capital, the firm's offshore arm, took commitments from a US institutional investor and several Southeast Asian clients and is in talks for a further $150 million, the report said. The additional capital would come from a Southeast Asian sovereign wealth fund; the firm is also targeting Middle East investors.

A subscription through the offshore entity now rests on verifying governance changes and on terms the report does not give: capacity, fees and liquidity provisions. The 2024 episode frames that diligence. Lingjun's assets fell by roughly half, to about 50 billion yuan ($7.5 billion) from about 100 billion yuan ($15 billion), the report said. The Shanghai and Shenzhen stock exchanges had temporarily suspended its trading over rule violations.

Cai, who founded Lingjun in 2014, said the firm used the two-year pause to overhaul risk management and governance, according to the report. It doubled its risk team, added controls to its trading systems and set up a five-member investment committee. Domestic fundraising restarted in March, and the offshore strategies reopened to international investors after that.