China-focused venture capital firm Ameba Capital has completed raising its second fund, bringing the firm’s total asset-under-management to over RMB1 billion (US$157 million), according to an announcement.
Limited partners of the latest fund include undisclosed entrepreneurs in Chinese Internet companies, local financial institutions, family offices, as well as backers of the firm’s first fund.
Founded in 2011 by former Kingsoft executive Wang Donghui and former Alibaba executive Andrew Teoh, Ameba Capital focuses on early-stage investments in the TMT (Technology, Media, Telecom), e-commerce, healthcare, education, financial services, and corporate services sectors in China.
Its first fund has invested in e-commerce platform Mogujie, ride share start-up Kuaidi Dache, personal finance bookkeeping and management app maker Wacai, and online education firm Chuanke.com.
Haizixue, an online education start-up Ameba backed in 2014, was acquired by Dianping.com in March.