<article>Legend Capital has secured commitments of up to $1.1 billion for its latest USD and RMB funds while Tsing Capital has launched a $300 million clean tech fund.</article>

Legend Capital has secured commitments of up to $1.1 billion for its latest USD and RMB funds while Tsing Capital has launched a $300 million clean tech fund.
<h3 style="text-align: justify;">Legend Capital secures $1.1b for USD &amp; RMB funds</h3>
<a style="color: #000080;" href="http://dealstreetasia.com/tag/legend-capital" target="_blank" rel="noopener noreferrer">Legend Capital</a>, the venture and growth capital arm of China&#8217;s Legend Holdings Ltd., has secured commitments of RMB8 billion ($1.1 billion) for its seventh U.S. dollar-denominated venture capital (VC) fund and fourth RMB fund.
Earlier in 2017, Legend Capital secured $243 million in capital for its seventh U.S. dollar fund, LC Fund VII, L.P. According to the company, its target for the fund was a corpus of $374 million.
Legend Capital has completed funding for three new vehicles in recent months: a USD-denominated healthcare fund, an RMB healthcare fund, and a RMB sports and culture fund. This amounts to an aggregate corpus of RMB4 billion ($580 million).
Li Jiaqing, chairman of Legend Capital, said, &#8220;We expect to make investments and hold for eight to ten years, and these funds will offer us enough capital to invest in different industries in the next ten years. We have raised over RMB12 billion ($1.7 billion) in the past few months, and realized exits worth over RMB10 billion ($1.4 billion) in the past three years.&#8221;
Currently, Legend Capital manages RMB30 billion ($4.4 billion) in assets and targets investment in the TMT, consumer, smart manufacturing, medical care, sports and culture sectors.
It has built a portfolio of more than 300 firms, with about 50 firms being successfully listed while an estimated 40 firms have been exited via trade sales.
<h3 style="text-align: justify;">Tsing Capital launches $300m environment fund</h3>
Chinese clean-tech venture capital firm <a style="color: #000080;" href="http://www.tsingcapital.com/" target="_blank" rel="noopener noreferrer">Tsing Capital</a> is raising funds for its fifth flagship fund, the China Environment Fund V, L.P. It targets a corpus of $300 million, with the fund targeting clean technology sectors.
Hong Kong-based <a style="color: #000080;" href="http://www.primeworld-china.com/" target="_blank" rel="noopener noreferrer">New Concept Holdings Ltd.,</a> which provides environmental protection and construction services, has agreed to be a limited partner (LP) in the fund, committing $5 million.
In 2011, Tsing Capital launched the $250 million China Environment Fund IV, L.P., which secured funds from key financial institutions, renowned family offices, strategic multinational corporations, and Fortune 500 companies.
Since inception in 2000, Tsing Capital focuses on investing in multi-disciplinary sustainable technology across China and in global markets. It currently manages two series of funds.
The first is the China Environment Fund focused on growth-stage opportunities in energy and resources, environmental protection, new materials, and intelligent technologies. Its Smartech Innovation Fund concentrates on the Internet of Thing (IoT) sector, artificial intelligence (AI) and new materials.
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Legend Capital has secured $1.1B for a USD and RMB fund while Tsing Capital is raising $300M for a clean tech fund.

China: Legend Capital raises $1.1b for two funds; Tsing Capital to raise $300m China env fund

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China: Legend Capital raises $1.1b for two funds; Tsing Capital to raise $300m China env fund

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