China’s Future Capital raises $187m in new fund for early-stage tech firms

Future Capital, an early-stage venture capital firm in China, announced that it has completed the final close of its fourth US dollar fund with US$187 million.

Future Capital founding partner Mingming Huang / Photo credit: Future Capital

Some of its limited partners include global fund of funds, family offices, foundations, and high net worth individuals from the US, Europe, and Asia Pacific.

The fund, USD Fund IV, will continue to focus on investing in early-stage enterprise technology (including enterprise software and software-as-a-service), as well as consumer technology companies in the Greater China region.

“With China’s accelerating industry digitalization, we see huge growth potential and incredibly strong demand for enterprise technologies that enable digitized work, business automation, smarter supply chains and logistics,” said Mingming Huang, founding partner of Future Capital.

The fund was launched during the pandemic in late February and was closed in seven months, the company said.

Founded in 2014, the Chinese VC firm currently manages three US dollar funds and one in yuan, and has over US$600 million of assets under management.

It has invested in over 150 companies, including electric vehicle manufacturers Li Auto and Niu Technologies, mobile internet company Newborn Town, big data analysis firm Sensors Data, self-cleaning robot mop and vacuum provider Narwal, and Taos Data, an open-source big data platform for internet of things, among others.

The firm currently has offices in Beijing, Shanghai, and Hong Kong.