China's Yingke PE raises nearly $1.6b for new RMB fund, days after closing USD fund

Chinese investment firm Yingke PE on Thursday announced the final close of a new RMB-denominated fund at 10 billion yuan ($1.6 billion) as the firm builds a war chest to deploy capital in biomedicine and hard technology sectors.

The new fund attracted capital commitments from government-backed industry funds and financial institutions, the firm said in a statement. It will invest in deals across the spectrum from angel rounds to private placements of listed portfolio companies.

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