China’s Winreal Investment has held the first closing of a new RMB-denominated fund at 1.3 billion yuan ($149.5 million) as the investment company targets a hard cap of no more than 2 billion yuan ($293 million) to invest in 5G development.
As the second of its 5G fund series, Winreal already completed the business registration for this vehicle and sealed commitment agreements with limited partners (LPs), including 5G industry corporates, investment institutions and China’s government-led funds for the first closing, the firm announced in a post on its WeChat official account on Monday. It expects to hold the final closing before the end of this year.
