Xiaomi, Kuaishou-backer 5Y Capital closes new USD, RMB funds at over $2b

Xiaomi, Kuaishou-backer 5Y Capital closes new USD, RMB funds at over $2b

Shanghai, China

5Y Capital, the Chinese venture capital (VC) firm that has backed smartphone brand Xiaomi and online short-video app Kuaishou, has closed an unspecified number of USD- and RMB-denominated funds at over 13 billion yuan ($2.0 billion) in total.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter