01VC, a Shanghai-based early-stage venture capital (VC) firm, has closed its $100-million second fund focusing on early-stage opportunities in China.
The fund had closed its $30-million first fund in 2015.
o1VC looks for startups in the areas of technology-enabled supply chain, logistics, B2B, enterprise SaaS, and consumer internet.
In a LinkedIn post, the VC firm said a bulk of the capital commitments for its latest fund came from overseas investors such as foundations, endowments, family offices and fund of funds.
01VC’s portfolio companies are mainly from mainland and greater China. It includes names such as Lalamove, Hong Kong’s on-demand logistics platform; Qianyu Islands, a Beijing-based mid-tier hotel chain (acquired by OYO in March); and Bicaijia.com, a Shanghai-based B2B fresh vegetable and fruit online seller.
The VC has also made a few investments in Southeast Asia. This includes Indonesia’s VIPDiskon, a cashback and discount coupon site; Vietnam’s Ngay Nay, an online news platform; and Singapore’s KrAsia, a digital media platform covering startups and tech innovation in Asia.
Launched in 2014, 01VC is led by managing partners Ian Goh and Zhao Yong. Both previously held positions at Matrix Partners and Kleiner Perkins.