China's 01VC closes second early-stage fund at $100m

01VC confirmed the fundraise via social media, noting that most commitments came from overseas investors, including foundations, endowments, family offices and fund-of-funds. The firm's debut vehicle raised $30 million in 2015.

Fund II will focus on technology-enabled supply chain players, including companies in logistics, B2B services, enterprise software-as-a-service, and consumer internet platforms. 01VC is known for being a seed-stage backer of Hong Kong delivery start-up Lalamove, which has raised $1.6 billion to date.

01VC was founded in 2014 by Ian Goh, who was previously a partner at Matrix Partners, Kleiner Perkins, and TDF Capital. The firm primarily targets opportunities within Greater China but also looks around the region, with recent activity including an investment in India-based cooking robot maker Nymble Labs.

The firm also contributed to Lalamove's $300 million Series D earlier this year, which reportedly brought the start-up's valuation to $1 billion. Other portfolio companies include XTransfer, a Chinese cross-border payments service provider for small to medium-sized enterprises, and Haoyunhu56, a Chinese bulk logistics services provider.

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• Topics
• Greater China
• Fundraising
• Venture
• China
• seed
• Logistics
• Technology