China's Withinlink seeks $30m for VC fund
China-based start-up incubator and early-stage investor Withinlink is targeting $30 million for its second venture capital fund to help US companies enter the Chinese market.
The vehicle, known as Withinlink Venture Fund 2.0, will target mid- to late-stage US media and technology companies not yet doing business in China as well as early-stage companies founded in the US by Chinese entrepreneurs. Targeted segments are expected to include mobile advertising, big data and analytics, social media, and the internet-of-things.
"While China has an abundance of venture capital firms, many VCs lack basic knowledge of the advertising ecosystem, relations, and how or why companies are acquired by agency networks," Bessie Lee (pictured), CEO at Withinlink, said in a statement. "Withinlink leverages a network of C-suite media executives to source deals, mentor startups, and create winners."
Winthinlink was founded by Lee in 2015 and closed its first fund earlier this year at RMB55 million ($8.4 million). Previous investments include social media tracking and management company WeTalk, mobile advertising company Pingcoo, and AI creative platform Kuaizi.
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