China's Fortune Capital secures $858m first close of RMB fund, targets $1.1b final close

China's Fortune Capital secures $858m first close of RMB fund, targets $1.1b final close

Shenzhen, China. Source: Welkin Chen/Unsplash

Chinese venture capital (VC) firm Fortune Capital has secured the first closing of its RMB-denominated new fund at over 5.5 billion yuan ($858.4 million), the firm announced on Friday. The fund has a targeted size of about 6.8 billion yuan ($1.1 billion).

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter