Former bankers at Cargill Inc and HSBC Holdings are now running CMIA Capital Partners Pte. The new firm is now planning to undertake a fund raising program worth US$150 million for fund that would be investing in Chinese agricultural businesses by the end of the year.

Nearly 20% or about US$30 million of the CMIA China Fund IV LP has been invested in different companies. These are Zhongtian Longzhou Agricultural Equipment, which specializes n farm machineries manufacturing and Lvya Mushroom Co, king oyster mushrooms producers. According to co-founder Lee Chong Min, the focus would be on agribusiness and food industries under the agricultural markets that would be growing alongside the growth of the middle class in China.

In an interview in Singapore, Lee said, "Our investments are all related to China's consumption story. Domestic spending will be the big theme over the coming years after the expansion of the industrial sector."

This would be the company's fourt fund and the targetted internal rate of return is between 25% and 30%. CMIA is based out of Singapire and is now planning to complete the investment plan by 2015.