China- and SEA-focused VC firm ZWC Partners to raise $237m for new RMB fund

Chinese Yuan notes. Photo: Reuters

ZWC Partners, a venture capital (VC) firm that invests in both China and Southeast Asia, is planning to raise 1.5 billion yuan ($237.2 million) for a new RMB-denominated fund as it looks to shore up investments in areas of consumer tech, enterprise services, and industrial tech.

The proposed fund has already secured capital commitments from a range of limited partners (LPs) incorporated in mainland China, Hong Kong, and the British Virgin Islands (BVI), a British Overseas Territory located in the Caribbean to the east of Puerto Rico.

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