Volcanics Venture raises $72.8m of its $100m China-focused fund

Photo: Reuters

Shanghai-based Volcanics Venture has managed to mop up $72.8 million out of its $100 million proposed fund from nearly 14 limited partners (investors), according to a U.S. Securities and Exchange Commission filing.

According to the filing, Volcanics has managed to make its first fundraise of its vehicle on 4 May 2018.

The fund invests mainly in early or growth stage Chinese companies across the sectors of internet innovation, healthcare and smart technology. The Shanghai-based Volcanics Venture Fund has about 17 firms in its portfolio.

The firm is managed by Suyang Zhang, Ying Wu and Yeshun Dong who are former veterans of IDG Capital.

Its recent investment includes a $28.6 million Series B made together with SBCVC, Shenzhen GTJA Investment Group and Witruth Capital in Innovative Cellular Therapeutics Co Ltd, a Shanghai-based biotechnology company.

Also in March, the firm along with Morningside Venture Capital led a Series A plus worth tens of millions of RMB in Ishen365, a renal care service platform from Shanghai.

In recent updates, U.S. headquartered Moonrise Capital announced a $100-million China focused fund.

Also Read:

US-based Moonrise Capital eyes $100m China-focused VC fund

Sequoia Capital China participates in Infervision, Mydadao funding rounds

 

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.