China’s Northern Light secures nearly $309m for its fourth RMB fund

Northern Light Venture Capital (NLVC), which backs early-stage startups in China and the US, has made the final close of its fourth RMB-denominated fund at nearly 2 billion yuan ($309 million), the VC announced on Thursday.

RMB Fund IV, which is oversubscribed, received its capital commitment from its existing limited partners (LPs), most of who are local government-led industry funds, leading insurance groups and funds of funds. 

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