China’s Meridian Capital closes its sixth RMB fund at $329m

Beijing, China. Source: Li Yang/Unsplash

Meridian Capital China, a leading TMT-focused venture capital firm, has completed fundraising for its sixth yuan fund at an aggregate of 2.12 billion yuan ($329 million), per its announcement on May 20.

The vehicle received capital commitments from state-owned development funds, local government-led industry funds, funds of funds, insurance groups and conglomerates.

In the statement, Meridian Capital said it expects to secure over 3.3 billion yuan ($513 million) for its new funds launched in 2021, including a closed angel fund and a soon-to-be-closed industry fund.

Going forward, Meridian Capital will continue to bet big on new consumption and technology sectors.

The fund has so far invested in 11 firms including AI chip startup Biren, noodle restaurant chain Heft- Noodle, emerging brand Baixiaot, fitness management firm Dyesoo, among others. It claims that some of the startups have seen their valuations soar nearly 10 times, post-investment.

Since its inception in 2008, Meridian Capital has been an active investor in digital content, corporate services and new consumption themes. It has invested in over 190 startups, predominantly in the Series A and B rounds.

Meridian Capital’s prominent portfolio firms include Hong Kong-listed Chinese leading live social video platform Tian Ge Interactive Holdings, realty developer Golden Union Commercial, and Weimob, besides hot pot brand Zihaiguo and AI firm DeepBlue Technology. Currently, nearly 17 of its portfolio firms are in the process of hitting the public market with an IPO.

In 2016, Meridian Capital had closed its fifth RMB fund at 2 billion yuan receiving capital commitments from Shanghai United Media Group, Oriza Holdings, Gopher Asset Management and others.

Meridian Capital currently has about 8.5 billion yuan ($1.3 billion) in assets under management.

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.