Yao Song, co-founder of China-based camera producer DeePhi Technology, has set up a venture capital fund with commitments from VC peers and corporations, DealStreetAsia has reported.
SEE Fund has raised RMB200m ($30.9m) from limited partners digital media company ByteDance, financial services provider Ant Group and Tsinghua Holdings, the asset management arm of Tsinghua University.
Industrial park Zhongguancun Science City Science & Technology Scientist fund of funds made up the LPs together with Sequoia Capital China, Hillhouse Capital, Matrix Partners China, CPE, ZhenFund and FreesFund.
The Scientist vehicle has committed RMB2.8bn to five funds, local media outlet Beijing Daily reported in October 2020, including MiraclePlus, a VC firm led by former Baidu and Microsoft executive Lu Qi; ex-Google China head Kai-Fu Lee’s Sinovation Ventures; and hard-tech investment firm CAS Star.
SEE Fund I will back about 100 semiconductor, electronic information technology and industrial internet startups at pre-series A stage, according to DealStreetAsia. It has so far made eight investments in companies including Beijing Qinglei Technology, Seetrum YW Mems and Tsingyun Intelligence.
