Tech-, clean energy-focused IPV closes second fund above target
Chinese venture firm IPV Capital has completed the close of its second technology- and cleantech-focused fund at $125 million, above its intended target.
As part of the fundraise, IPV, formerly Infotech Pacific Ventures, saw the return of several LPs from its first vehicle, including UBS, RWB and an unnamed leading Asian endowment. New limited partners include Axiom Asia, which led the group, Tokio Marine and Morgan Creek.
The firm specifically intends to use the funds to strengthen its core investments in early-growth technology targets, and expanding into new areas in clean energy and medical technology. "This is a tremendous vote of confidence from our investors, as it further endorses our strategy that leads to our performance over the years." Terence Tan, IPV's Managing Partner, said in a statement.
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