China’s N5 Capital launches $200m debut VC fund

The N5 Capital Fund I has a target of $200 million, according to a filing.

The firm was founded by Will Jiang, a former vice president of strategy at US-listed NQ Mobile, a Chinese mobile security software producer, in 2012. The GP focuses on mobile internet technology, targeting early-stage companies across various segments in the mobile internet space.

According to local media, the firm has invested about 20 companies including mobile data analysis provider Talking data, cosmetic guide app Mocha, and mobile video app Xiaoying.

Separately, Source Code Capital, which focuses on internet and mobile internet investments, is also seeking $150 million for its Source Code Fund II. The firm was set up by Yi Cao, former vice president of Sequoia Capital China, in 2014.

Source Code raised $100 million for its debut US dollar fund in last August, from CEOs of Sequoia China, founders of Chinese group-buying site Meituan and news feed site Toutiao and among others. The VC firm also manages a renminbi-denominated fund worth of RMB120 million ($19 million).

Focusing on online-to-offline (O2O) businesses, internet finance and online B2B segments, Source Code previously invested in Qufenqi.com, PPzuche, Ebaoyang, Dudumeijia and 1Caifu.

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• Topics
• Greater China
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• China
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