China’s Vitalbridge Capital secures $275m for its second USD fund

Shanghai, China

Early and growth-stage investment firm Vitalbridge Capital has closed its second USD-denominated fund, thereby securing a total of $275 million in capital commitment, it announced on Monday.

Its latest dollar fund, which launched in May this year, is oversubscribed by about $20 million.

The fund has seen the participation of both existing and new limited partners (LPs) – these include fund-of-funds (FoF), family offices, insurance groups, and foundations.

In a statement, the firm says that it plans to deploy the capital raised to up to 30 projects in synergy with digital healthcare and corporate service.

Vitalbridge Capital earlier raised $150 million for its debut dollar-denominated fund in July last year, from domestic and international institutional investors like internet entrepreneurs, listed groups, overseas FoFs, and family offices.

Over the past year, Vitalbridge has invested the maiden fund to more than 10 companies including cloud computing financial service platform Maycur, PubLink, 3D printer Polly Polymer, software developer Miaoxiang, and customer relationship management cloud platform Dustess, among others.

Jinjian Zhang, a former executive officer at Temasek Holdings-backed Trustbridge Partners, founded Vitalbridge in 2019.

With offices in Shanghai and Hong Kong, Vitalbridge support technology innovation-led new service industries. With a focus on three areas – digitalized orthodontics, digitalized constructions, digitalized enterprise management.

Vitalbridge, which so far only launched dollar funds, invests up to $30 million in single investment in early and growth stage startups.

Before Vitalbridge Capital’s current US dollar fund, last week, China Renaissance’s investment arm Huaxing Growth Capital had held the first close for its fourth US dollar fund at nearly $550m, with a target to raise $1.2 billion.

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.