China-focused fund manager FountainVest Partners, which has raised three US dollar funds, has reportedly reached the final close of its debut RMB-dominated vehicle at RMB1.7 billion ($246.5 million).
FountainVest’s most recent fund was the FountainVest China Capital Partners Fund III at $2.1 billion, significantly larger than the second fund at $1.35 billion, which closed in 2012.
