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Future Capital Discovery Fund closes USD187m early-stage tech fund

Leading early-stage venture capital firm Future Capital Discovery Fund (Future Capital) has held the final closing of its fourth USD flagship fund, USD Fund IV with USD187 million in committed capital. The Fund will continue to focus on investing in early-stage enterprise technology and game-changing consumer technology companies in the Greater China region.

In addition to the previous institutional investors, USD Fund IV welcomes several new endowments; the Fund represents their first allocation to an early-stage Chinese specialist fund. Other new LPs include prestigious global fund of funds, family offices, foundations and top-tier HNWI entrepreneurs from the United States, Europe and Asia Pacific. 

“USD Fund IV marks a major milestone for Future Capital. We are appreciative of the trust our global LPs have placed in us. Despite the current environment, we closed the Fund ahead of schedule with a significant oversubscription, which validates our core investment thesis that digital disruption of traditional businesses is inevitable and will fuel the next decade of economic growth,” says Mingming Huang, Founding Partner of Future Capital Discovery Fund.

“With China’s accelerating industry digitalisation, we see huge growth potential and incredibly strong demand for enterprise technologies that enable digitised work, business automation, smarter supply chains and logistics. As structural changes across the economy continue to create new investment opportunities, our capabilities and track record of sourcing proprietary deals will enable us to continue to support exceptional entrepreneurs and generate value for our investors,” he added.

Future Capital’s fundraise was launched during the height of COVID in late February. By creating a fully virtual roadshow, Future Capital was able to effectively and efficiently reach a wide range of quality investors, resulting in a new fundraising record for the Firm.

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