Lightspeed China Partners has held the first close of a new RMB-denominated fund at 800 million yuan ($116.3 million) to double down on the green technology and hard technology sectors.
For the first close, the fund secured capital commitments from limited partners (LPs) including several state-owned fund-of-funds (FOFs) and technology innovation funds in eastern China’s Yangtze River Delta, the venture capital firm announced in a statement on Monday.