Monument Group advises Unicorn Capital Partners on Fund III USD350m fundraise
Monument Group has advised venture capital fund-of-funds manager Unicorn Capital Partners (Unicorn) on fundraising for Unicorn Capital Partners Fund III (Fund III), which closed at its hard cap of US$D50 million in capital commitments.
Similar to the previous funds, Fund III will focus on China-based technology-enabled consumer, enterprise, broad TMT and healthcare investment managers.
The investor base for Fund III, which closed on 31 December, 2019, includes both new and existing investors and is comprised of leading endowments, foundations, pension funds, family offices and successful technology entrepreneurs.
“It was a pleasure to work with the accomplished Unicorn team on the raising of Fund III,” says Robert Mast, a Managing Director at Monument Group. “As with its predecessor fund, we saw continued strong investor interest in Unicorn and in the venture capital sector in Asia. The close of Fund III helps ensure Unicorn will be able to continue building a portfolio of best-of-breed leading and emerging VC managers in China. We wish them continued success.”
“Monument Group proved instrumental in securing investors for Fund III and we thank them for their assistance,” says Tommy Yip, Managing Partner, Unicorn Capital Partners. “The Monument team brought significant buy-side and investment and consulting experience, as well as deep knowledge of, and experience in Asian private markets. With the raising of Fund III, we are well positioned to continue pursuing opportunities in China’s expansive technology-enabled market. We thank all of our investors for their confidence in Unicorn.”
In addition to Fund III, Monument Group advised Unicorn on the raising of its predecessor fund, USD250 million Unicorn Capital Partners Fund II (2018).