Kul Bhushan · · 1 min readChinese VC firm’s new fund hits first close at $60m
China-based VC firm 01VC has announced the first close of its new fund at over US$60 million. The firm plans to raise an additional US$40 million for its new fund.
01VC investing will invest between US$1 million and US$5 million in early-stage companies operating in areas such as supply chain, robotics, enterprise SaaS, and more through the fund, the VC firm told Tech in Asia.
The VC firm was founded in 2015 by Yong Zhao, who previously served as co-founder and chief operating officer at gaming firm Kingnet, and Ian Goh, former partner at Matrix Partners.
To date, 01VC has backed several Chinese tech companies, including Lalamove, Hai Robotics, Xiaoman Technology, XTransfer, and Xendit.
See also: Meet the 100 top-funded startups and tech companies in China
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