
Jeneration Capital hires former Coatue Asia head
Jeneration Capital Management, which sources the bulk of its funding from Chinese technology entrepreneurs, has appointed Tony Zhang as a partner. He was previously head of Asia at Coatue Management.
Zhang spent three years at Coatue, which followed a five-year stint with DCM. He has led investments in start-ups including VIPShop, 58.com and Tuniu – all of which are now listed – as well as Didi Chuxing, Ofo, and Uxin.
“JenCap is the next generation investment platform and sets itself apart from others in terms of source of capital and ability to dynamically allocate its capital across multiple asset classes. I am very excited to build this platform together with my partners,” Zhang said in a statement.
Jeneration has approximately $2 billion in capital under management, primarily deployed in late-stage growth investments, although there is also exposure to other strategies such as public equities. The firm describes its approach as “collaborative capital” – combining financial support with strategic advice from its investor base.
Current portfolio companies include Uxin, the online used car trading platform also backed by Coatue. Jeneration co-led a $500 million round in February alongside TPG Growth and China Vision Capital.
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