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...