The formal chairman of TITH Holdings Co., Ltd., a unit of Tsinghua Holdings, has raised RMB1 billion (US$152 million) for a new fund-of-funds focused on investing in Chinese angel investment vehicles, according to Chinese media reports.
Junzi Capital, the new investment firm founded by Qin Jun, has secured RMB300 million during the first twenty days of its establishment, says the reports.
At the same time, Junzi Capital plans to establish a strategic partnership with Beijing Semiconductor Manufacturing and Equipment Equity Fund, one of China’s earliest semiconductor-focused private equity funds.
The fund-of-funds will seek to back angel vehicles focused on China’s industrial upgrade and to provide more capital for China’s booming start-ups.
Qin Jun was the formal chairman of TITH Holdings, which was a subsidiary of Tsinghua Holdings founded in 2010 to focus on science park and industrial zone development, as well as angel investments and incubators, according to the company’s website.
Beijing Semiconductor Manufacturing and Equipment Equity Fund, whose website could not be opened, has reportedly made 80 private equity investments in China.