IDG Capital Partners closes USD586m China-focused tech VC fund
IDG Capital Partners has closed a USD586 million fund, IDG China Venture Capital Fund IV, focused on making early-stage technology, media and telecom (TMT) investments in China.
“We are thrilled to announce the close of IDG China Venture Capital Fund IV and to continue our long history of investing in China’s TMT sector,” says Hugo Shong, founding general partner of IDG Capital Partners.
The new fund exceeded its original target due to oversubscription by existing limited partners as well as strong interest from new investors. Investors included Breyer Capital, the global investment and venture philanthropy firm founded by Jim Breyer. Breyer has been collaborating with IDG China and investing in China for over a decade and he will play a strategic advisory role in the new fund.
"I am very excited to again be partnering with the IDG China team," says Breyer. “I am passionate about long-term investments in Chinese early-stage internet and ecommerce companies, and in next generation technologically-driven opportunities in education, finance, healthcare and energy where emerging big data platforms are creating tremendous entrepreneurial opportunities. In the Chinese mobile internet alone, there will be well over 600 million users within two years."
- By Category
- News from other sites
- Special Reports
- Partner events