China-focused venture firm Banyan Capital has completed final closing of its first venture capital fund, Banyan Partners Fund I, on January 8 raising a total of US$206 million, according to a company announcement.
The fund will focus on investing in the technology, media and telecommunications sectors in China.
The fund had two months of marketing period, and attracted over 40 investors from the world including entrepreneurs, family offices, fund-of-funds, foundations and other institutional investors from greater China and the U.S.
The key principals of Banyan Capital were previously with IDG Capital Partners in China.
Ropes & Gray provided legal advice led by Shanghai-based private investment funds partner Geoffrey Chan during the fundraising.
