China’s Kaiwu Capital to raise $150m maiden fund

According to an SEC filing, the firm is registered in the Cayman Islands and counts Shuhua Zhou and Karen Liu among its directors. Prior to joining Kaiwu, Zhou worked as a managing director at Northern Light Venture Capital and spent six years as a vice president at the China-focused online media company SINA, where he led the search and e-commerce business unit.

Liu was a managing director at China Renaissance Capital Investment, where she focused on healthcare and life-science related investments.

Founded in early 2011, Kaiwu Capital targets sectors including technology, media and telecoms (TMT), clean-tech, healthcare, new materials, renewable energy, consumer and education. The firm has  invested in at least 17 portfolio companies, including Sagent Pharma, a generic injectable drug maker that was listed on Nasdaq in April last year.

Last November, Shanghai Venture Capital, a government-backed fund-of-funds, confirmed it will invest in Kaiwu's new vehicle. The LP has received RMB600 million ($94.5 million) from the Shanghai government and has invested in 17 funds.

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• Topics
• Greater China
• Fundraising
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• China
• Fundraising
• Venture