Sky9 Capital, an early-stage venture capital which backs Chinese technology companies, has closed two funds with a combined pool of $440m.
Its new funds are Sky9 Capital Fund IV, and Sky9 Capital MVP Fund – it is unclear how the capital is split.
These funds come a year after the firm closed its last fund. Sky9 Capital Fund III closed on $200m with a gaol of backing businesses in the internet, enterprise and deep technology sectors.
With Fund IV, the firm will continue to focus on early stage startups, mainly at Series A and B round and deploying between $1m and $10m. The MVP Fund will focus on growth-stage and break-out companies in the current Sky9 portfolio.
The investment vehicle will make investments into Chinese internet, enterprise and deep technology sectors.
The firm has backed a handful of FinTechs. Last year, it participated in the $133m round of Basis, a cryptocurrency with an algorithmic central bank.
Sky9 Capital founder and partner Ron Cao said, “We are privileged to have worked with so many remarkable entrepreneurs. Having witnessed multiple economic cycles over the past two decades, we believe we are entering into an unprecedented new phase of technology innovation.
“The potential disruptions around internet, media, commerce, software, infrastructure and AI are perhaps greatest around the Chinese start-up ecosystem as the country’s entrepreneurial environment continues to mature and develop. We are excited to work with a great group of investors and partners on this amazing journey ahead.”
Copyright © 2019 FinTech Global
