• Facebook

Gobi Reaches First Close Of Its Asean Growth Fund At $50M

Gobi Partners, a Chinese venture capital firm focused on information technology, telecom, media and technology (TMT) and digital media industries, has reached the first close of its new Asean-focused fund at US$50 million. Malaysia Venture Capital Management Bhd (Mavcap), Korean home shopping company GS Shop, and Indonesian investment firm CKM have also invested in the fund, according to a company announcement. “This fund is the biggest growth stage fund to come out of Malaysia at this point, and it is …

Banyan Capital Raises $725M Across Two New Funds

China-focused venture capital firm Banyan Capital has raised over RMB5 billion (US$725 million) across two new funds, bringing the three-year-old firm’s total assets-under-management to around RMB11 billion (US$1.6 billion). The two new funds, including Banyan’s third U.S. dollar fund with US$350 million in assets and one RMB-denominated growth fund, will continue firm’s strategy of investing in early and growth-stage projects in the artificial intelligence, Internet, enterprise services, consumer upgrade and entertainment sectors. The firm also raised a US$50 million side …

Meituan-Dianping Launches $440M Consumer Industry Fund

China’s largest on-demand local services provider Meituan-Dianping has launched a RMB3 billion (US$440 million) industry fund to invest in the greater consumer field, as investors and companies in China race to capitalize on increasingly discerning consumers, according to a company announcement.

Legend Capital Secures $243M For Seventh Venture Fund

Legend Capital, the venture and growth capital arm of China’s Legend Holdings Corporation, has secured US$243 million for its seventh venture capital fund, according to a securities filing. LC Fund VII, L.P. is aiming to raise US$374 million in total, and is still in the process of raising the remaining US$132 million. The vehicle last filed with the U.S. Securities and Exchange Commission in February 2016 as it began the fundraising process. Founded in 2001, Legend currently manages RMB30 billion …