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.