China's Gaorong closes Fund V at $1.1b
Gaorong Capital has closed its fifth US dollar-denominated fund with commitments of $1.15 billion. It brings the Chinese venture capital firm's assets under management to about $4 billion.
The new fund is more than twice the size of its predecessor - which closed at $500 million in late 2018 - yet was still substantially oversubscribed, Gaorong said. The fundraising process took just over...
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