Chang Sun, the former head of China and North Asia for Warburg Pincus, has launched a new private equity firm, Black Soil Capital Partners, which will focus on investing in the agriculture sector and agribusiness in China.

 

The new firm is seeking to raise $1 billion to be allocated to two funds – the first, a U.S. dollar denominated fund, and the second an RMB-denominated fund.

 

Sun is the founder and the current chairman of the China Venture Capital Association (CVCA), and prior to being with Warburg Pincus, was an executive director within the investment banking division of Goldman Sachs (Asia).