Unicorn Capital Partners (Unicorn), an Asian venture capital fund-of-funds manager, has completed fundraising for Unicorn Partners Fund IV, (Fund IV), which was oversubscribed and closed at its hard cap of USD450 million.
Similar to its predecessor funds, Fund IV will focus on fund and direct investment opportunities in technology and healthcare in China.
The investor base for Fund IV, which closed on 1 June, 2021, includes both new and existing investors and is comprised of leading endowments and foundations, family offices, pension funds, and asset managers in the US, Europe, Asia and Latin America.
“We are very pleased to announce the final closing of Fund IV and are deeply grateful to the investors, whose support of Unicorn and confidence in our strategy allowed us to raise the fund in less than six months while in the midst of a global pandemic,” says Tommy Yip, Managing Partner, Unicorn Capital Partners. “With this additional capital, we will continue our efforts to generate outperformance for investors through seeking out and backing top emerging managers ahead of the curve.”
Monument Group, one of the industry’s leading placement agents, served as the exclusive placement agent for Fund IV. In addition to this fund, Monument Group advised Unicorn on its two prior funds, Unicorn Capital Partners Fund III in 2019 (USD350 million), and Unicorn Capital Partners Fund II in 2017 (USD250 million).
“With Unicorn’s well-earned reputation as one of China’s leading venture capital fund of funds, we found significant investor interest in the firm’s strategy dedicated to emerging managers in the technology and healthcare sectors,” says Robert Mast, a Partner at Monument Group. “It was truly a privilege to utilise our global network of investor relationships, to assist with this fundraising effort. We wish Tommy, Kai-Fah and the entire Unicorn team much continued success.”