BlueRun closes third China VC fund at $200m
BlueRun Ventures has closed its third China-focused venture capital fund at $200 million, targeting early stage start-ups.
The vehicle closed after just a few months in the market, Jui Tan, a general partner at BlueRun, told in a press conference in Beijing, according to local media. The technology-focused fund will make investments at angel and pre-Series A stages, committing between $100,000 and $10 million per transaction.
Founded in 1998, Silicon Valley-based BlueRun focuses on mobile software, services and financial technology. It entered China in 2005, operating offices in Shanghai and Beijing.
Previous investments included Mazhan.com, a Chinese online margin trading platform, electronics installment payment platform Qufenqi, and mobile healthcare app developer Spring Rain Software. Last week, US-listed Chinese classifieds site 58.com bought a 43.2% stake in its domestic rival Ganji.com - a BlueRun portfolio company - in a deal worth around $1.61 billion.
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