Chinese venture capital firm Legend Capital has raised $243 million for its seventh vehicle.
According to an SEC filing, the venture and growth capital arm of China’s Legend Holdings Corporation aims to raise $374 million for its latest fund. It is still in the process of raising the remaining $132 million. It began fund raising about a year ago.
In May 2014, Legend Capital raised a new $500-million vehicle in a span of under six months.
Founded in 2001, Legend Capital focuses on innovation and growth enterprises with operations in China or related to China. It claims to be managing several US dollar funds and RMB funds with a total assets under management at over RMB30 billion.
According to data available on the company’s website by 2016, Legend Capital has invested in over 300 companies, of which 50 are successfully listed on domestic or overseas capital market, besides, around 40 companies achieved exit through M&A.
The investment firm recently co-led a $100-million funding round in Chinese boutique hotel operator AtourHotel. Prior to that, in November, it had invested $20 million along with Riverhill Fund, the investment arm of Alibaba Group, in Chinese online seafood marketplace Gfresh.
Recently, CDH Investments, a China-focused alternative investment firm, completed its local mid-market fund at a maximum level of $800 million in total commitment.