Shanghai-based venture capital (VC) firm HighLight Capital is targeting to raise $650-700 million for its fourth USD fund, after closing its fourth RMB fund at 3.1 billion yuan ($437 million) last month.
The combined target of $1 billion comes despite the difficult fundraising environment globally, the firm’s founder and CEO Steven Wang told DealStreetAsia. The fourth USD fund is targeting a close by Q3 2023, Wang added.