MindChamps to enter China with joint venture partner

Singapore

MINDCHAMPS PreSchool has signed a joint venture agreement with China First Capital Group (CFCG) that will allow it to make its foray into China.

The joint venture will see the establishment of a fund that aims to raise an initial tranche of US$200 million from the offering and sale of limited partnership interests to limited partners. MindChamps and CFCG may also invest in the fund, which will be used to set up and acquire preschool centres under the MindChamps brand in China.

First Capital Asset Management, which is indirectly wholly owned by CFCG, will be appointed as an investment adviser t…