Redpoint closes debut China VC fund

The ACE Redpoint Ventures China I will be managed by an independent China team led by David Yuan, according to a release. The vehicle, which is expected to be fully deployed within two years, will target at early-stage start-ups in technology, media and telecommunications (TMT), especially in the areas of consumer technology and enterprise software.

The China team also includes partners Tony Wu and Reggie Zhang. They will work closely with the US-based team in terms of sharing resources and helping portfolio companies expand cross-border.

Founded in 1999, Redpoint invests in start-ups across the seed, early and growth phases. The firm, which manages over $3.9 billion across multiple funds, is based in Menlo Park and has offices in San Francisco, Los Angeles and Sao Paulo. To date, it has backed more than 465 companies that have delivered 140 IPOs and M&A events, including trailblazers 2U, HomeAway, Heroku, Netflix, PureStorage, Twilio and Zendesk.

Yuan launched Redpoint China in 2005, establishing offices in Beijing and Shanghai. The firm has backed more than 40 Chinese TMT start-ups including iDreamSky, Qihoo 360 and 51.com, all of which went on to list in the US.

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• Topics
• Greater China
• Venture
• Fundraising
• Early-stage
• Technology
• Consumer
• TMT
• China