China’s Banyan fast-tracks Fund II
The launch of Banyan Capital's second US dollar-denominated fund came sooner than expected. The China-focused VC firm, which spun out from IDG Capital Partners and closed its debut vehicle at $206 million just over 12 months ago, had the Fund II launch penciled in for the second quarter of 2015.
This plan changed when sit-downs with a handful of international LPs - in Asia for annual general meetings of other GPs - crystalized into prospective commitments. "Few people expected us to close our...
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