Industry Newsroom

Sinovation Achieves USD362 Million Final Close for Latest RMB Fund

China-focused venture capital firm Sinovation Ventures has reached a final close for its latest RMB-denominated fund with CNY2.5 billion (approximately USD362 million) in capital commitments. The fund was reportedly launched in May 2018 in cooperation with the Guangzhou government. The fund will target early- and growth-stage investments in artificial intelligence, big data, education, consumer, and business-to-business service companies.