With its business transformation and associated change of name being approved by the Financial Supervisory Commission, R.O.C. (hereinafter referred to as “FSC”), China Development Industrial Bank (hereinafter referred to as 'CDIB') has been officially renamed CDIB Capital Group upon the business transformation on March 15th, 2017, and will focus on the core business activities of fundraising and venture capital investment. China Development Financial Holding Corporation (hereinafter referred to as 'CDF') has tailored its business operation to provide a full range of integrated financial services through three major subsidiaries: KGI Bank, KGI Securities and CDIB Capital Group.
CDIB Capital Group, formerly China Development Corporation and later China Development Industrial Bank, was the first private development-oriented financial institution established in 1959. In more than 50 years of history, CDIB Capital Group has concentrated on the principal investment and corporate banking businesses to play a pivotal role in supporting Taiwan's industrial development and economic growth. The evolution of Taiwan's industrial structure is neatly encapsulated in the changes of CDIB Capital Group's investment and credit portfolio. CDIB Capital Group invested in traditional textiles and petrochemicals industries in the 60s and 70s; it shifted its focus in the 80s and 90s to foster high-tech industries, such as the electronics and information technology industry, and the semiconductor industry. From 2000, CDIB Capital Group has been actively involved in industries such as optoelectronics, alternative energy, medical and healthcare, just to name a few. CDF has established a close-knit industrial network, and most of the clients in whom CDF has invested have successfully extended their reach from Taiwan to Greater China, as well as to other major markets worldwide.
CDF, in accordance with the FSC's requirement that a banking license is permitted to be held by one subsidiary under the same financial holding company, has completed the surrender of the banking license held by its subsidiary CDIB and changed its name accordingly. CDIB has now been renamed CDIB Capital Group with a focus on fundraising, venture capital investment and asset management. CDF continues to enhance the competiveness of its subsidiaries and aims to become a specialist of alternative asset management in the Asia-Pacific region.
CDIB Capital Group has been restructured with solid business deployment, steered by Chairman Chia-Juch Chang and CEO James Ho. Meanwhile, CDIB Capital Group has been leveraging its strengths and experience accumulated over the years to actively engage in the fundraising and management of private-equity funds. CDIB Capital Group has succeeded in establishing six private equity funds, namely CDIB Capital Creative Industry Limited, CDIB Capital Healthcare Ventures Limited, CDIB PE (Fujian) Enterprise (L.P.), CDIB Yida PE (Kunshan) Enterprise (L.P.), CDIB Capital Asia Partners L.P. and Alibaba Taiwan Entrepreneurs Fund I, with assets under management totaling approximately NT$27.7billion. Furthermore, CDIB Capital Group anticipates the launch of CDIB Capital Innovation Accelerator Ltd. and CDIB Capital Growth Partners L.P. in 2017, and the total assets under management will reach NT$32.0bn upon completion of fundraising. CDIB Capital Group aims to become a specialist in alternative asset management in the Asia-Pacific region, while CDF will continue to improve its profitability through three major business subsidiaries towards becoming the most distinguished financial group among the world's Chinese-speaking population.