Dec 07, 2018 (China Knowledge) - Gaorong Capital has announced the completion of its USD 500 million four-phase fund raising yesterday. The company completed phase-three of its three-stage early funding in May and raised RMB 360 million. At present, the total size of the nine funds managed by the company is equivalent to about USD 2.2 bln.
After the fund-raising, the company will continue to focus on early and long-term entrepreneurship projects in TMT areas such as new consumption, new technology, industrial Internet and enterprise services.
Zhang Zhen, founding partner of Gaorong Capital, said that USD 450 million main fund for institutional investors of the four-phase Gaorong Capital Fund has been actively subscribed by new and old institutional investors. However, we still choose to stick to investment principles and discipline and keep the size of the USD 450 million main fund unchanged. The USD 50 million side fund, a four-stage US dollar fund for company’s management team and entrepreneurs, has also been successfully raised.
Gaorong Capital is positioned as ‘Founder Fund of China’. Based on institutional investors and entrepreneurs, it builds an ecosystem of sustainable development around investment and financing.
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