Fundraising has become easier for Chinese private equity and venture capital funds that have struggled since the end of last year
Beijing-based private equity firm Xianghe Capital on Wednesday closed its second US-dollar denominated fund at $425 million and its first RMB fund at Rmb1 billion ($139 million)
Xianghe said that investors in the USD fund include university foundations, pension funds, as well as a charitable fund, all from North America, Europe, the Middle East and Australia Proceeds will be used to invest in internet-related businesses, artificial intelligence, and big data projects
About 17 private equity and venture capital firms have raised funds since July, both USD ones and RMB funds Some of them easily surpassed...
