5Y Capital, the venture firm that delivered a $30 billion return on its investment in Chinese short-video app Kuaishou, is seeking to raise another fund to bet on a new generation of startups, according to people familiar with the matter.
One of the earliest investors in Kuaishou, 5Y Capital is planning to raise at least $1 billion, the people said, asking not to be named because the matter is private. A representative for the firm declined to comment.
