KUALA LUMPUR, Sept 4 -- Xiang He Capital, the China TMT focused venture capital firm founded in 2016 by former Baidu executives Hesong Tang and Maggie Yang, recently closed its second USD-denominated venture fund at the increased hard cap of US$425 million. (US$1 = RM4.21)
The fund was well oversubscribed, exceeding the US$350 million target and with demand beyond the hard cap. LP support came from existing and new investors from across the United States (US), Europe, the Middle East and Asia-Pacific, representing global consultants, leading university endowments, foundations, family offices, pensions, and fund-of-funds.
Continuing its strategy from Fund I, Xiang He invests in high-growth Internet and tech-enabled businesses in China, identifying and investing at an inflection point where companies have operational traction but have not yet scaled to the growth stage of investment.
Xiang He’s comprehensive and analytical approach and strategic vision are highly recognised by entrepreneurs and have been instrumental in winning competitive deals in China’s VC space. The fund has closed four deals to date, in sectors spanning e-commerce, online education, enterprise services and AI.
Hesong expressed delight over the strong support received from existing and new institutional investors worldwide, reflecting collaborative and strategic approach to partnering with management teams and investors.
Xiang He Capital is a venture capital firm targeting early and growth stage investments in the TMT industry in China with particular focus on Internet, enterprise services, and AI/Big Data.
For more information, contact http://www.xianghecap.com/weben/index.php
-- BERNAMA
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