13 investors backed the launch of Prax Capital

Prax Capital was founded in 2003 as a private equity fund focused on the primary market in China. It initially invested in growth opportunities and later shifted its focus to buyouts, with notable investments including Suntech, Little Sheep, Chlitina, Suchuang Gas, Initial Fashion, Yongda Auto, Tsui Wah, and Yuga Group. Following the retirement of its founding partners, Victor Wu has decided to transform the firm into a traditional SF. He has secured the backing of 13 investors from North America, Europe, Latin America, Africa, and Asia, including Singapore-based Lighthaven, Ambit Partners, Secways, Vonzeo Capital, Spectra Investments and Novidam.

Victor Wu has over a decade of experience in private equity, including 3.5 years as the full-time CEO of a portfolio company, where he led cross-functional teams and implemented strategic initiatives such as capacity expansion, customer diversification, and innovation partnerships, culminating in a successful exit to another PE fund. His expertise spans deal sourcing, execution, portfolio management, and operations, making him well-positioned to pursue the SF model amid increasing SME succession challenges in China. Prior to PE, he worked as an auditor at KPMG. Victor holds an MBA from CEIBS, a Bachelor’s degree in Civil Engineering from the University of Waterloo, and is a CPA with the HKICPA. He also serves as a mentor through the HKICPA and the University of Nottingham Ningbo China.

Victor is seeking to acquire an SME in Shanghai, Hong Kong, or surrounding areas within a 200km radius, with over US$20M in revenue, EBITDA margins above 15%, a high level of recurring revenue, and a fragmented customer base. He is primarily focusing on the supply chains of consumer good and B2B services, but not limited to these sectors.