China's Yingke PE raises $155m for RMB fund, total fundraising this year stands at $2b

Chinese investment firm Yingke PE announced on Wednesday that it has raised 1 billion yuan ($155.4 million) for a new RMB-denominated fund, bringing the firm’s total fundraising amount so far this year to over 13 billion yuan ($2 billion).

The fundraising for the new Chinese yuan fund follows the final closing of an earlier RMB fund at 10 billion yuan in May as Yingke PE targeted to raise its stake in the biomedicine and hard technology fields. A few days earlier, Yingke PE had closed its third US dollar fund to back global biomedicine companies. It did not disclose the size of the USD Fund III.

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