China’s Linear Venture raises $142m

Photo: REUTERS/Jason Lee

Shanghai-based venture capital firm Linear Venture has held a final close for its third fund, collecting RMB500 million ($72.53 million) for its RMB-denominated vehicle and $70 million for a US dollar-dominated vehicle.

According to a statement released on Linear Venture’s official WeChat account on Monday, limited partners include founders and executives from Facebook, Twitter and LinkedIn and Chinese internet giants Baidu, Alibaba and Tencent.

Chinese buying group website Meituan Dianping, online travel services provider Qunar.com, fund-of-funds in China and the United States, family offices and Asian asset management firms also backed the latest funds.

The latest vehicles will invest only in data intelligence (DI) over the next five years.

Established in 2014 by Facebook’s former employee Harry Wang and Chinese online retailer Tmall’s former executive Michael Zhang, Linear Venture focuses on early-stage investments. It has invested in over 50 startups in China, Silicon Valley and Southeast Asia.

It currently manages assets under management of over RMB1.5 billion ($216.4 million). Its portfolio includes Hong Kong-based fintech firm NEAT and Chinese autonomous driving vehicles developer Horizon Robotics Inc.

Also Read:

China’s NIO, Horizon Robotics gains fundraising momentum in car tech push

China’s Linear Capital leads $3m funding in HK fintech firm Neat

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.