Beijing-based early-state venture capital (VC) firm China Growth Capital is looking to reach the final close of its sixth RMB-denominated fund at about 1 billion yuan ($140.2 million), says its founding partner. The firm is targeting to hit the final close around the third quarter of this year.
The technology-focused VC has backed firms like Alibaba-backed augmented reality (AR) glasses developer Xreal (previously “Nreal”) and Nasdaq-listed online brokerage firm UP Fintech Holding Limited. In Southeast Asia, it invested in Akulaku, an Indonesian fintech firm that offers digital banking and other services such as Buy Now Pay Later.