China's Fortune Capital holds first close of $1.13b RMB fund to double down on hard tech

China's Fortune Capital holds first close of $1.13b RMB fund to double down on hard tech

Photo by Eric Prouzet on Unsplash

Fortune Capital has held the first close of a new RMB-denominated fund at over 5 billion yuan ($705.6 million), as the Chinese venture capital (VC) firm targets to raise a total of 8 billion yuan ($1.13 billion), the firm announced on Friday.

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