US pension fund commits $30m to IDG Capital’s sixth China venture fund

Chinese Yuan notes. Photo: Reuters

US pension fund Delaware Public Employees’ Retirement System (DPERS) has committed $30 million to IDG Capital’s China Venture Capital Fund VI, the fund’s recently released board meeting minutes show.

The commitment was part of a total of $80 million investment approved by the fund’s managers during a February 28 meeting. Aside from IDG Capital, DPERS’s board also approved a commitment of up to $50 million to Flagship Pioneering Origination Fund VII, a life sciences venture capital fund.

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