China-focused IDG Capital in market for new $550m venture fund

Photo: REUTERS/Jason Lee

IDG Capital, a venture capital firm that focuses on Chinese businesses, is seeking to raise up to $550 million for a new VC fund, according to its latest filing with the US Securities and Exchange Commission.

The filing for IDG Capital Project Fund IV comes as the investment firm, which has offices in Beijing, Hong Kong, New York, and London, is raising $688 million for another fund, IDG China Venture Capital Fund VI, which was launched in March of this year.

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