<article>US-headquartered global venture capital firm <a href="https://www.dealstreetasia.com/?s=Moonrise%20Capital">Moonrise Capital</a> has hit the first close of its debut China-focused fund at $105.7 million, according to its US SEC filing.</article>

US-headquartered global venture capital firm <a href="https://www.dealstreetasia.com/?s=Moonrise%20Capital">Moonrise Capital</a> has hit the first close of its debut China-focused fund at $105.7 million, according to its US SEC filing.
Moonrise Capital said the fund &#8211; <a href="https://www.dealstreetasia.com/?s=Moonrise%20China Partners I">Moonrise China Partners I</a> &#8211; launched in February 2018 with a target of $125 million, has attracted commitments from 27 investors as it continues to invest in venture capital opportunities in China.
A Moonrise Capital spokesperson earlier told DEALSTREETASIA that the firm does not make any comments while in the fundraising stage.
Moonrise Capital is managed by Donald Pascal, formerly of Commonfund Capital Inc (CCI). Pascal played a key role in the CCI venture programme evolution from a domestic to global focused-firm and sponsored the opening of CCI’s Beijing, China office.
On its website, Moonlight Capital says it invests in global venture capital opportunities, principally committing to funds sponsored by premier venture capital managers. It also pursues co-investment opportunities in coordination with managers and purchases of fund interests through secondary transactions.
Moonrise Capital now joins a number of investment managers that have raised or are raising China-focused funds. In February, Silicon Valley-headquartered venture firm <a href="https://www.dealstreetasia.com/?s=Sequoia%20Capital">Sequoia Capital</a> announced it is raising four China-focused funds.
The four new funds are Sequoia Capital China Growth V Principals Fund, Sequoia Capital China Growth Partners Fund V, Sequoia Capital China Venture Partners Fund VII, and Sequoia Capital China Venture VII Principals Fund.
<a href="https://www.dealstreetasia.com/?s=Northern%20Light Venture Capital">Northern Light Venture Capital</a> also raised about $445 million for its new VC fund, Northern Light Venture Fund V, exceeding its $390-million target.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/moonrise-capital-100m-china-focused-vc-fund-92263/">US-based Moonrise Capital eyes $100m China-focused VC fund</a>

The venture capital fund, Moonrise China Partners I, was launched in February 2018 with a target of $125 million.

Moonrise Capital holds first close of debut China-focused fund

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Moonrise Capital holds first close of debut China-focused fund

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief