China-based venture capital firm Fortune Venture Capital has secured RMB4.63bn ($667m) for its latest renminbi-denominated fund, from limited partners including property developer Century Golden Resources Group, China Money Network has reported.
Financial services firm Industrial and Commercial Bank was also among the LPs, as was Shenzhen Yunneng Fund, Kpeng Capital and the city of Shenzhen’s guidance fund.
Founded in 2000, Fortune VC focuses on the technology, media and telecoms; consumer goods and services; agricultural technology and cleantech spaces. Its portfolio includes electronics recycling service Aihuishou and browser developer Red Core Security.
The firm began raising money for the Shenzhen Fortune Chuangtong Equity Investment fund in November 2017 and has so far invested about $190m in 30 companies.
