Oct 19, 2018 (China Knowledge) - Chinese media platform 36kr has launched a RMB 1 billion venture capital fund. The fund has been in operation for 11 months and has invested into 25 companies in the areas of news consumption, enterprise services and smart manufacturing.
The fund will be targeting companies in the series A and B stages and hopes to bring greater integration of the startup ecosystem. Some industries the company looks to target are high-tech services, medical facility providers, culture and consumption upgrades.
36kr which initially started as a media outlet for technology news has since expanded to include data services and co-working spaces as it looks to outline presence in the entrepreneurship services market.
36kr has reported on 30,000 startups including Didi, Toutiao and Ofo. The company has also amassed more than 40,000 pieces of domestic and foreign investment institutions data and more than 600,000 pieces of project data. The company believes that this places it in a position to help budding capable entrepreneurs.
The move by 36kr mirrors Bloomberg which has also entered venture capitalism through its Bloomberg Beta arm, and has raised USD 75 million for a second fund.
36kr’s media arm raised RMB 300 million in a series A funding last year, while its co-working space business netted RMB 600 million in pre-Series B funding January, this year.
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