Ex-Baidu executive raises $29m China business services fund
Longzhong Xinyi, a venture capital firm established by Hailong Xiang (pictured), formerly a senior executive at Baidu, has raised RMB200 million ($29 million) for its debut fund.
The new vehicle will target investments in business services, Xiang told 36Kr. He expects to launch a second fund in the second half of 2020. Xiang spent 14 years at Baidu, heading up the search giant's...
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