IDG spin-out Banyan Capital raises $206m for China fund
Banyan Capital, a China-focused VC group that spun out from IDG Capital Partners, has closed its debut fund at $206 million. High net worth individuals – primarily the founders and CEOs of companies the team backed while at IDG – contributed more than half of the capital raised.
The fund - Banyan Partners Fund I - had an initial target of $150 million and a hard cap of $200 million, but ended up oversubscribed after only about two months in the market. Banyan is led by Zhen...
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