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Jack Ellis · · 1 min readIn brief: Tech news site 36Kr launches $144m VC fund
Beijing-based 36Kr, a technology media platform and entrepreneurship service provider, today announced the establishment of a RMB 1 billion (US$144 million) venture capital fund.
The fund aims to support early and mid-stage companies in the fields of consumption upgrade, high-tech, medical, and cultural, besides others.
Source: China Money Network
“Consumption upgrade” refers to business models that promote wider economic growth in China by encouraging greater consumer spending, higher-value production, and workforce upskilling.
The fund has been operating under wraps for the past 11 months, and has made about 25 investments in media and enterprise services as well as startups focused on smart manufacturing.
Among its other businesses, 36Kr runs co-working space operator Kr Space and English-language tech news site KrAsia.
Currency converted from Chinese yuan. Rate: US$1 = RMB 6.94
Editing by Eileen C. Ang
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