Xiang He raising $350m for second China TMT-focused VC fund

Photo: Bloomberg

Xiang He Capital, a California-based venture capital firm, is raising a $350-million second fund to invest in technology, media, and telecommunications (TMT) sector in China.

Based on Xiang He’s US Securities and Exchange Commission filing, Xiang He Fund II LP seeks to be larger than the firm’s $261-million debut fund, Xiang He Fund I LP, raised in 2017. The inaugural fund had a target of $300 million.

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