Chinese State-Owned NewMargin Ventures Reaches First Close For New Fund At $187M

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NewMargin Ventures, a Chinese state-owned private equity and venture capital firm, announced on Tuesday that it has launched a new fund to raise a total of RMB10 billion (US$1.49 billion) in southwestern Shenzhen’s Nanshan district, an innovation hub that hosts Chinese tech heavyweights like Tencent and Huawei.

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