<article>Venture capitalist Andrew Chung, a former partner with <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Khosla+Ventures" target="_blank">Khosla Ventures</a>, has started his own fund called <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=1955+Capital" target="_blank">1955 Capital</a>, and has already raised $200 million.</article>

Venture capitalist Andrew Chung, a former partner with <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Khosla+Ventures" target="_blank">Khosla Ventures</a>, has started his own fund called <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=1955+Capital" target="_blank">1955 Capital</a>, and has already raised $200 million.
Chung plans to invest in technologies that have commercial value in developing countries and promote sustainability. Such sectors include energy, food, agriculture, health, education, and sustainable manufacturing, with much of the investment expected to flow into China.
Startups that get funding would typically be founded in western nations like the U.S., Canada and Europe, and wanting to take advantage of the big opportunities and funding sources available in China.
Chung hopes that resources of developed economies will help solve environmental and social issues facing fast-growting emerging markets such as China, the world&#8217;s second largest economy, and India.
“We believe that China, India, and other developing countries face fundamental challenges that put the future of their societies at risk and place severe pressure on governments and business leaders for solutions,” said Chung in a statement. “We founded 1955 Capital because we believe disruptive technology is critical to solving these issues and can help bring nations closer together by matching the ingenuity of the West with the growing survival­driven demands of the East. For U.S. technology companies, direct access to these large and explosive end­markets will help accelerate technology commercialization, create jobs, and foster partnerships that will support their long­term growth and development.”
The name 1955 Capital was chosen to symbolize a year when Albert Einstein, biologist Alexander Fleming and jazz legend Charlie Parker died — and a second generation of innovators like Bill Gates, Steve Jobs, Eric Schmidt, and Vinod Khosla, the founder of Chung&#8217;s previous firm, were born.
Chung is experienced in cross-border investment for years. After joining Khosla Ventures in 2011 as one of six partners, he worked with biofuel startup <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=+LanzaTech" target="_blank">LanzaTech</a> and brokered deals with Chinese steelmakers. He has also been involved with sustainable technologies in his role prior at <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Lightspeed+Ventures" target="_blank">Lightspeed Ventures</a>, where he helped build the firm&#8217;s cleantech and genomics practices.
In the first two months of 2016, investors in the renewable energy and sustainable technologies space have raised more than $800 million. They include Norwegian energy giant <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Statoil" target="_blank">Statoil</a>, which has committed to invest $200 million in renewable energy over the next six years, and Reuben Munger, who raised $430 million for his US-based firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Vision+Ridge+Partners" target="_blank">Vision Ridge Partners</a>.
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Venture capitalist Andrew Chung, a former partner with Khosla Ventures, has started his own fund called 1955 Capital, and has already raised $200 million.

New firm 1955 Capital raises $200m to bring Western tech to China

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New firm 1955 Capital raises $200m to bring Western tech to China

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