Shanghai — May 18, 2010 — United Water Corporation announced today that it has successfully completed a second round fund raising which introduced Infinity I-China as a new investor. Existing investor Blue Ridge China also participated in the fund raising demonstrating its continued confidence in and support for United Water.
“This marks another milestone in United Water’s drive to become a leading player in China’s water industry. We selected Infinity not only because Infinity brings capital to aid our expansion but also because of its network and relationships with Israeli water treatment companies. Israel is one of the leading nations in both water conservation and water treatment technologies and we will actively work with Infinity to find opportunities to utilize such technologies for the benefit of China’s water industry. The follow up investment by Blue Ridge China demonstrates their continued support for the Company.” said Phillip Yu, President of United Water Corporation.
“The water industry is rapidly growing in importance and size in China. Israel is a world leader in water technology. One of Infinity’s key mandates is to facilitate technology cooperation between Chinese companies and those from the West. Investing in United Water not only is a perfect match for this prescription, but because of its mid-level size, it will also enable Infinity to make a noticeable, positive and lasting impact on the water industry in China.” said Amir Gal-Or, managing partner of the Infinity I-China Fund.
“We are excited about the tremendous potential of United Water and glad to continue to support the growth of the company.” said Justin Tang, founder and managing partner of the Blue Ridge China Capital Fund.
About United Water Corporation
United Water owns and operates water supply and waste water treatment facilities and also provides engineering services related to water supply infrastructure and industrial waste water pretreatment facilities. United Water is committed to bringing benefits to Government, Investors, Employees and Customers by applying the best of Chinese and International approaches to providing quality water services and at the same time protecting this precious resource. United Water has a management team with significant experience working in Multinational organizations and China’s water industry. In each project United Water seeks to build its depth of management resource by identifying ambitious and talented individuals within the local management team and giving them appropriate positions to develop their potential. For more information: www.united-water.com
About Blue Ridge China Capital
Blue Ridge China is a private equity firm, co-founded by Justin Tang, the founder of eLong.com (NASDAQ: LONG), and Blue Ridge Capital, a global hedge fund based in New York. By combining Blue Ridge Capital's investing track record and Justin Tang's experience in building businesses in China, Blue Ridge China is seeking long term capital appreciation through investments in China. Blue Ridge China is now managing a private equity fund of about $1.8 billion, focusing on the investments in growing companies located in China.
About the Infinity I-China Fund
The Infinity I-China Fund is the leading fund of Infinity Equity founded by Clal Industries and Investments Ltd. from the IDB group and SVG Group from Suzhou, China. Infinity Equity is currently managing more than US$600 million through three funds with a portfolio of 45 companies and 20 successful exits. The Infinity I-China Fund, Infinity’s second fund in China, is the first and largest fund that focuses on Israeli-Chinese related opportunities and serves as a bridge for Israeli-Chinese business initiatives and for other non-Chinese companies doing business in China. The fund has attracted high profile investors around the world, including IDB in Israel and the China Development Bank in China. The Infinity I-China Fund has a highly experienced international team at offices in Tel-Aviv, Hong Kong, Shanghai, Suzhou and New York. For more information: www.infinity-equity.com |
