Redpoint Ventures seeks to raise $400m across two China funds

Photo: REUTERS/JASON LEE

Redpoint Ventures, which invests in startups across the seed, early and growth phases, is seeking to raise $300 million for its second flagship China fund, according to a recent filing with the U.S. Securities and Exchange Commission.

The firm is also looking to raise a $100-million opportunity fund that will also focus on the Chinese technology startups.

Menlo Park, California-based Redpoint closed it debut China fund at $180 million in October 2016. Redpoint China, which was launched by David Yuan, Tony Wu and Reggie Zhang, had proposed to invest in about 25 companies with initial investments expected to average $1-4 million from the first fund.

Redpoint, which has about $4.8 billion of assets under management, is an investor in China’s Yixia Technology, a video blogging platform valued at more than $3 billion. It recently led a seed round in Ao Graph, a product that provides business security for Internet customers. In November last year, it led a Series B investment in FIT2CLOUD, a Chinese cloud management platform.

According to data available with Crunchbase, Redpoint Ventures China has invested in 12 companies in the country till date. Some of its other portfolio companies in China include Haoqipei, a B2B platform for auto repair shops, Yunshan Networks, data intelligence company Kyligence, and AI startup Pony.ai, among others.

Since 1999, Redpoint has invested in 501 companies globally, including 2U, HomeAway, Heroku, Netflix, PureStorage, Snowflake, Stripe, Twilio, and Zendesk, according to its website.

Also Read:

Lightspeed Venture Partners secures $560m for its largest China fund

Exclusive: CDH Investments mops up over $1b for sixth China fund

 

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.