Chinese venture capital company Eastern Bell Capital raised more than 13 billion yuan ($ 2.04 billion) in its last round of financing, boosting the company’s investment momentum in the world’s second-largest economy.
The company, which invested in electric vehicle maker Xpeng Inc and startup trucks (similar to Uber) Full Truck Alliance, raised the funds through a mutual fund in yuan and one in dollars, the company said in a statement, without elaborating.
The yuan fund attracted investment from government funds, banks and insurance companies, known as limited partners (LPs), while the dollar fund attracted foreign investment funds from foreign, pension funds.
Venture capital and private equity companies generated 7,358 new funds in the first 11 months of the year, raising a total of $ 645.8 billion, according to CVINFO, an organization that oversees the industry in China.
This is a recovery from 2020, when $ 451.8 billion was raised, the smallest amount in five years.
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Source From: Capital
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