Lightspeed China Partners has closed its third fund securing $260 million, exceeding its targeted amount of $240 million. It also announced a “substantial closing” of its maiden RMB fund with a target size of RMB 500 million ($75 million).
“With USD and RMB dual-currency venture funds, the partnership plans to continue investing in China-based early stage companies in Internet, mobile, Internet Plus (transforming traditional industries with Internet technologies), and enterprise technology sectors,” the investment firm said in a statement.
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