Foundation PE backs Bright Venture Capital’s first USD fund

Photo by Josh Appel on Unsplash

Singapore-headquartered Foundation PE, an Asia-focused secondaries investor, has led the fundraising for China’s Bright Venture Capital’s first USD-denominated vehicle, the firm said in a statement.

Bright VC’s first fund closed with total commitments of $82 million, part of which was used to acquire a portfolio of assets, including businesses in the consumer sector, held in the firm’s RMB-denominated funds. The remaining capital will be used for new investments.

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