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The venture capital firm was founded by Hesong Tang, a former Vice President at Baidu who was in charge of strategic M&A and investments at the Chinese firm.
The seed round was joined by DHVC, Cherubic Ventures, Ce Yuan, Ontology Foundation, Nest.Bio Ventures, and Zhong Cheng Xin Credit Technology.
Zhihu is China’s version of US-based Q&A site Quora, which was last valued at $1.8 billion in 2017.
The investment fund, Circulate Capital, will invest in companies, projects, and innovations that seek to prevent ocean plastic in South and Southeast Asia.
The company’s big-data platform provides anti-fraud detection services for loan applications, among others.
IFC is considering an investment of up to $5 million in the VC firm’s third fund.
The proposed listing follows three rounds of funding backed by investors including Tencent, Dragon Cloud, ChinaCity Capital, and Tigerstep.
Hillhouse is raising up to $8 billion in a private equity fund that will invest in China and the rest of Asia.
The target amount is lower than the $300 million that the company initially planned to raise when it filed its US SEC filing in June.
Amobee acquired the assets through a court-supervised auction, following Videology’s voluntary reorganization bankruptcy under Chapter 11 of the US Bankruptcy Code.