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Europe's biggest listed private equity firm, 3i Group Plc., plans to ramp up the size of its investments in China by several-fold, thus increasing its stake in the world's seventh-largest economy.

London-based 3i had averaged less than US$10 million in each of its six China-based investments to date, but would like to bump that to as much as US$30 million to US$50 million per project in the near term, executives said.

It hopes to make its next investment in three to six months — most likely in consumer products or healthcare.

“The funds available are more than we can invest at the moment,” chief executive Philip Yea told reporters at an event to mark 3i's first China office in Shanghai on Monday.

Unlike most private equity firms that raise money from outside investors, 3i invests with its own funds. It controls a global portfolio of investments worth about US$8 billion scattered among 1,500 firms.

Reflecting a strong cash position, 3i said in May it would return 500 million pounds (US$923 million) to shareholders, with more money likely to be returned in future.

3i has invested about US$100 million in China to date, in firms ranging from advertising company Focus Media and microchip maker CSMC Technologies to fire-alarm system manufacturer GST Holdings.