Zero2IPO reports that non-Chinese managers are starting to form more onshore RMB funds.  The law firm O’Melveny & Myers explains that many of the deals that they work on are stand-alone RMB funds or parallel funds.  These funds work together with an offshore fund in the Cayman Islands.

Larry Sussman,  the head of the law firm’s Beijing office, explains that setting up on offshore fund is easier when compared to setting up an onshore one.

This is certainly interesting news for companies like ARC China with Adam Roseman, that invest in Chinese ventures of all sorts.