China's early-stage VC Northern Light raises $700m for new USD, RMB funds

China's early-stage VC Northern Light raises $700m for new USD, RMB funds

Beijing, China. Source: Li Yang/Unsplash

Northern Light Venture Capital (NLVC), which backs early-stage startups in China and the US, is set to close an RMB-denominated and a US dollar fund with $700 million in total capital commitments to double down on investments in the world’s two largest economies, especially in China.

“Fundamentally, we find that global institutional investors, particularly those in the United States and Europe, are deeply committed to the attractiveness of deploying capital into fund managers with a China story,” Jeffrey Lee, co-founder and managing director at NLVC, told DealStreetAsia.

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