Fundraising

VC veteran JP Gan starts a new fund for internet opportunities

Thanks to the track record of its founding team, INCE Capital has raised more than $350 million for the hard cap of its debut fund.

JP Gan, the former managing partner of Qiming Venture Partners, has closed his debut fund, which will target Chinese internet businesses, at $352 million

INCE Capital, which Gan founded with another Qiming-veteran Steven Hu, raised more than its previous expectations of $250 million, according to a press release

The new fund gathered investors from Pittsburg University, Duke, Carnegie Mellon, Dietrich Foundation, Commonfund, Mayo Clinic and others It completed the fundraising within four months

INCE Capital is looking at online opportunities in China Although the number of mobile internet users in the country decreased by 2 million in the second quarter of the year, Gan thinks the various needs of mobile internet users...

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