Chinese VC Legend Capital receives $243m for 7th fund

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.

Also Read:

China: Alibaba, Legend Capital invest $20m in seafood marketplace Gfresh

China dealbook: Legend Capital leads $30m round in Haizi, Cybernaut launches $9b M&A fund

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.