<article><a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Texas+County+%26+District+Retirement+System" target="_blank" rel="noopener noreferrer">Texas County &amp; District Retirement System</a> (TCDRS) has committed $30 million to venture capital firm IDG Capital&#8217;s new China fund.</article>

<a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Texas+County+%26+District+Retirement+System" target="_blank" rel="noopener noreferrer">Texas County &amp; District Retirement System</a> (TCDRS) has committed $30 million to venture capital firm IDG Capital&#8217;s new China fund.
TCDRS&#8217;s website mentions it made the investment in IDG China Venture Capital Fund V on June 30. The vehicle targets to raise around $588 million.
IDG Capital had closed its previous China fund at $586 million in 2014 focused on early-stage technology, media and telecom investments in China.
Formed in 1993 as China&#8217;s first technology venture capital firm, IDG Capital has invested in companies such as Tencent, Baidu, and Xiaomi. Some of its recent investments include Gbits Network Technology, Tian Ge Interactive Holdings, and CreditEase.
In 2016, it partnered with Silicon Valley VC firm Breyer Capital to launch a $1 billion China investment fund. The IDG Capital Fund III focuses on multiple &#8216;next-generation opportunities&#8217; across technology, healthcare, media and telecommunications, energy, and consumer products.
Last week, IDG Capital led <a style="color: #000080;" href="https://www.dealstreetasia.com/stories/china-idg-capital-leads-50m-round-chengjia-shouqi-car-booking-app-raises-88m-77226/">a $50 million round</a> in China&#8217;s apartment rental firm Chengjia. Prior to that, the firm, along with China Oceanwide Holdings Group, bought tech publisher International Data Group for an estimated $1.5 billion.
According to its website, IDG Capital has around 500 companies in its portfolio and has already exited 120 companies.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/63153-63153/" target="_blank" rel="noopener noreferrer">IDG Capital, China Oceanwide to acquire International Data Group</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/idg-capital-to-deploy-more-resources-in-firms-eyes-tech-assets-70328/" target="_blank" rel="noopener noreferrer">IDG Capital to deploy more resources in firms, eyes tech assets</a>

Texas County & District Retirement System (TCDRS) has committed $30 million to venture capital firm IDG Capital's new China fund.

Texas County & District commits $30m to IDG Capital's new China fund

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Texas County & District commits $30m to IDG Capital's new China fund

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