Unicorn Capital Partners (Unicorn), a venture capital fund-of-funds manager focused on China and other key technology markets in Asia, has closed Unicorn Partners Fund II at its hard cap of USD250 million.
In line with its two predecessor funds, the Fund will partner with venture capital managers who invest in the areas of technology, media and entertainment (TME), and healthcare throughout China.
Unicorn received strong support from its existing investor base while also adding a number of new investors including leading endowments, foundations, sovereign wealth funds, family offices, and successful technology entrepreneurs.
“We are pleased to announce the final closing of our third fund at a level that was significantly oversubscribed and would like to thank our investors for their support,” says Tommy Yip, Founding Partner of Unicorn. “We believe there are increasing opportunities in China for outsized returns powered by a large and growing new economy, an established technology ecosystem, and a maturing venture environment with a large and more experienced supply of entrepreneurs, stable capital markets for venture funding, and a variety of exit options.”
“We are not here to provide exposure but generate superior returns for our investors by building a highly selective portfolio with only the top 5 per cent venture capital managers in China,” says Kah-Fai Low, Founding Partner of Unicorn. “We are the venture expert in China with extensive venture capital fund investment experience. Venture is the only thing that we do.”
Monument Group served as the exclusive placement agent for the Fund.
“Monument Group was very pleased to work with Unicorn Capital Partners on their highly successful fundraise,” says Bob Mast, Managing Director of Monument Group. “The process was a testament to Unicorn’s strong relationships within the Chinese venture capital community, their successful investment track record and their long experience in providing value to their investors.”
