Shanghai-based private equity firm Vision Knight Capital has completed fundraising of its second fund, raising US$550 million, according to Chinese media reports.
The fund, Vision Knight Capital (China) Fund II, will continue to invest in companies in the Internet, e-commerce and consumer sector.
Investors of the fund include sovereign wealth funds, college funds, pension funds, insurance funds and well-known family funds.
Jointly founded by David Wei and Dr. Zhu Daming in May 2011, Vision Knight Capital manages a total of US$800 million.
David Wei is formerly the CEO of Alibaba.com Limited, as well as the chief representative for Kingfisher’s Asia sourcing office, and the CFO then CEO of B&Q China. Zhu Daming is formerly a partner at DT Capital Partners.