The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Ping An’s Voyager brings good health to PE

The fund is deploying $1 billion of the Chinese group’s money into digital medicine and fintech around the world, but profit is not its main ambition.

jonathan larsen 780x400

Jonathan Larsen, Ping An

In the increasingly crowded field of home-grown Chinese private equity and venture capital, one member of the throng is doing its own thing. Ping An Global Voyager is a $1 billion fund whose number-one priority is not its returns. 

“I’m not going to be a very popular fellow if we don’t deliver a reasonable return on Ping An and [founder] Peter Ma’s dollars,” says Jonathan Larsen, chairman and chief executive of the fund and chief innovation officer across the whole Ping An group. “But financial return is not the primary criteria. The objective is much more than that.”

Instead, Larsen says, the objective is “a way of extending Ping An’s access to capabilities.” 

It is principally about buying its way into emerging innovation outside China and bringing that expertise back for the group to assimilate and build upon. 

“We do a lot of internal R&D, but there is an enormous amount of innovation going on, in fintech and digital health in particular,” he says. 

Those two fields are the priority of the fund, which launched last year with $1 billion to deploy.  

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?