Legend Capital, the venture capital firm formed by China-based conglomerate Legend Holdings, has raised more than $400m for its seventh fund, Private Equity International has reported.
Founded in 2001, Legend Capital focuses on China-based companies and has a 300-strong portfolio. Its investments have included social media company Renren, on-demand ride service UCar, mapping technology developer AutoNavi and automotive marketplace Bitauto.
The $400m represents the fund’s hard cap, according to Private Equity International. Legend Capital has more than RMB30bn ($4.35bn) of assets under management, a press release last week stated.