China-focused venture capital firm Sky9 Capital has hit a $200m final close for its latest vehicle targeting the internet, enterprise, and deep technology sectors.
The firm, which has a presence in Beijing, Shanghai, Shenzhen, and Silicon Valley, has already used Fund III to make investments in companies including ZhaoYouWang, the a B2B e-commerce platform for the petroleum industry, online wealth management marketplace eBroker, social e-commerce platform for home furnishing Home, and Energy Monster, a power bank sharing platform.
Sky9 invests between $1m and $10m in seed and Series A rounds, and $10m-plus for expansion-stage companies.
Founder and managing partner Ron Cao said, “Sky9 has an exceptional team, and we have the experience and the commitment to continue to explore and invest in the biggest technology opportunities in China today.
“The size and scale of the China internet and technology space continue to be unprecedented. We are honored to have the chance to work with some extraordinary entrepreneurs in building exceptional companies together.”
“Sky9 Capital is eBroker’s most important investor and partner,” said Max He, Founder & CEO of Chinese online wealth management platform eBroker.
“In addition to providing advice and strategic planning, Sky9 focuses on building long-term value and is a true partner in growing together.”
Earlier in the month, Sky9 took part in the $133m private placement of Basis, a cryptocurrency backed by an algorithmic central bank. The protocol was designed to expand and contract supply in a similar manner to how central banks buy and sell fiscal debt to stabilise purchasing power.
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