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BAI Capital closes Fund I at $700m

Venture capital firm BAI Capital has completed the successful raising of BAI Capital Fund I, L.P. (“Fund I”) and its related investment vehicles with approximately $700 million of total capital raised, exceeding the fund’s target size.

Venture capital firm BAI Capital has completed the successful raising of BAI Capital Fund I, L.P. (“Fund I”) and its related investment vehicles with approximately $700 million of total capital raised, exceeding the fund’s target size.

Based in China, the BAI Capital team was originally established in 2008 by Founding and Managing Partner Annabelle Long, as Bertelsmann Asia Investments, the future-oriented investment arm of Bertelsmann´s investment businesses. Since 2008, the team of BAI Capital has invested in more than 200 portfolios, including 17 IPOs and 40+ unicorns.
 
Now independent and wholly owned, BAI Capital will adhere to a diverse Fund I portfolio with two main focuses: China-based global companies and China’s structural transformation. BAI Capital seeks to partner with and empower outstanding Chinese companies and entrepreneurs that can leverage the multiplier effect of China’s technology, talent, and supply chain advantages and to expand globally in consumer retail and services, fintech, media and content innovation, Web3 and metaverse. On the other hand, at the turning point of China’s structural transformation, the fund will also seize major cross-cycle disruption opportunities in frontier and infra tech, electric vehicles and autonomous driving, and industrial upgrade driven by enterprise software development.
 
The investor base for Fund I and related investment vehicles includes institutional investors such as sovereign wealth funds, large insurance companies, internet giants and fund of funds globally, as well as Bertelsmann.

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