Bao Fan (Chinese: 包凡; born 18 October 1970) is a Chinese investment banker and investor, the former chairman and CEO of China Renaissance, which he founded in 2005.
Bao Fan | |||||||||
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| Born | 18 October 1970 | ||||||||
| Citizenship | Chinese | ||||||||
| Alma mater | Fudan University Norwegian School of Management | ||||||||
| Occupation(s) | Investment banker; investor | ||||||||
| Known for | Founder, Chairman, and CEO China Renaissance | ||||||||
| Chinese name | |||||||||
| Chinese | 包凡 | ||||||||
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In 2015, Bao was featured on Bloomberg Markets 50 Most Influential, ranking number 22.[1]
In February 2023, Bao was missing for 2 days, but later it was revealed that he was taken in by Chinese authorities for questioning regarding his former colleagues.[2]
Early life and education edit
Bao was born in Shanghai to parents who worked in the government. In reference to his parents' placement within the government, Bao notes they were "Nothing senior, I'm not one of the princelings".[3] He went to high school in the US.
He received degrees from Shanghai's Fudan University and the Norwegian School of Management.[4]
Career edit
Bao worked for Morgan Stanley, Credit Suisse and Morgan Stanley again, in London, New York and Hong Kong. In 2000, Bao left Morgan Stanley to become chief strategic officer at the Chinese start-up AsiaInfo Holdings.[5][6]
In 2005, Bao founded China Renaissance, a Chinese financial institution dedicated to China's New Economy businesses. China Renaissance Holdings Limited was listed on the Main Board of HKEX in 2018.[7]
China Renaissance started a private equity investment management business in 2013. Bao is the Founding Partner and Chief Investment Officer of China Renaissance's investment management business.[8]
In February 2023, the BBC and other sources reported that Bao had been missing for two days and they were unsure of his whereabouts.[9][10][11] The disappearance has caused the stock of China Renaissance to drop by 50 percent,[12] though the company said in a statement that Operations would "continue normally".[12] Later, the company announced that Bao was taken by the Chinese authorities as a part of an investigation targeting Bao's former colleague and the company's former president, Cong Lin.[2]
In February 2024, Bao resigned from all of his roles at China Renaissance.[13]
Recognition edit
In February 2016, China Renaissance received FinanceAsia Achievement Awards for "Best China Deal" and "Best Private Equity Deal".[14] The "Best China Deal" was for its role as the financial advisor for Meituan and Dianping's "strategic cooperation".[14] Meituan-Dianping is China's largest group deals website, and in January 2016 it closed a $3.3 billion funding round, valuing the merged company at $18 billion. The company claims that this is China's largest ever funding round for a venture-backed Internet startup.[15]
Personal life edit
References edit
- ^ "Fan Bao". Bloomberg. 5 October 2015. Retrieved 20 February 2023.
- ^ a b "Bao Fan: Missing Chinese billionaire assisting authorities, the firm says". BBC News. Retrieved 27 February 2023.
- ^ "Upstart Bank in China Rides High on Technology I.P.O. Crest". The New York Times. Retrieved 2 February 2016.
- ^ "Fan Bao - Biography". 4-traders.com. Retrieved 2 February 2016.
- ^ "Mr. Fan Bao, interviewed by China Daily_China Renaissance". Huaxing.com. Retrieved 2 February 2016.[permanent dead link]
- ^ "Fan Bao". LinkedIn. Retrieved 2 February 2016.
- ^ Huang, Eustance (27 September 2018). "Closely watched China Renaissance IPO crumbles in first day of trade". CNBC. Retrieved 25 June 2023.
- ^ a b William Mellor (11 May 2015). "Chinese Investment Banker Fan Bao Searches for Next Jack Ma - Bloomberg Business". Bloomberg.com. Retrieved 2 February 2016.
- ^ Joel Guinto; Fan Wang; Frances Mao (17 February 2023). "Bao Fan: Billionaire tech banker in China reported missing". BBC News.
- ^ "Bao Fan's disappearance sends chill through finance circles in China – Fund23". Retrieved 20 April 2023.
- ^ "Bao Fan: Billionaire tech banker in China reported missing". BBC News. 17 February 2023.
- ^ a b "China's billionaire CEO Bao Fan disappears; share stock plunges". ANI News.
- ^ Hoskins, Peter (2 February 2024). "Bao Fan: Missing China billionaire banker resigns from all roles". BBC News. Retrieved 3 February 2024.
- ^ a b "China Renaissance Wins "Best China Deal" and "Best Private Equity Deal" in FinanceAsia's Achievement Awards 2015 - Yahoo Finance". Finance.yahoo.com. Retrieved 2 February 2016.
- ^ "Meituan-Dianping, China's Largest Group Deals Site, Closes Massive $3.3B Round At $18B Valuation". TechCrunch. 20 January 2016. Retrieved 2 February 2016.