Morningside raises $412m across three China TMT funds

According to regulatory filings, the firm has raised $279 million for its main fund - Morningside China TMT Fund III - which is targeting $307.5 million.

Meanwhile, it has reached the $40 million target for Morningside China TMT Fund III Co-Investment, and received $93 million in commitments from investors for Morningside China TMT Special Opportunity Fund, which has a target of $102.5 million.

Richard Liu, Ken Shi and Gerald Chan are managing the funds.

In 2007-2008, Morningside Technologies spun out from its family office parent and launched independent funds, although the Chan family remains the anchor LP. The first fund raised $150 million in 2008 and the second closed at $225 million three years later.

Morningside Technologies primarily focuses on investing in technology, media, and telecom industries in China. Its early successes include web portal Sohu, travel booking site Ctrip and online games operator The9. Each one went public in the US.

More recently, Morningside invested in Xiaomi, a hugely successful smart phone brand in China.

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• Topics
• Greater China
• Fundraising
• Morningside Technologies
• TMT
• Fundraising
• China