Xiang He Capital Closes Second US Dollar Fund, at $425M
Summary
LP support came from existing and new investors from across the United States, Europe, the Middle East and Asia-Pacific, representing global consultants, leading university endowments, foundations, family offices, pensions, and fund-of-funds. Founded in 2016 by Mr. Hesong Tang and Ms. Maggie Yang, Xiang He Capital is a venture capital firm targeting early and growth stage investments in the TMT industry in China with a particular focus on: – internet, – enterprise services, and – AI/Big Data. The fund has closed four deals to date, in sectors spanning e-commerce, online education, enterprise services and AI. Together, they led a series of landmark deals at Baidu, such as iQiyi, Qunar, PPS, 91 Wireless and Kuaishou, and, more latterly, at Xiang He Capital have invested in companies such as iQiyi (NASDAQ: IQ), Yunmanman (currently known as Manbang), Huolala, Zuoyebang and VIPKID, which have all had a significant impact on China’s TMT industry. They are supported by a senior investment team with backgrounds in corporate development at Baidu, as well as other leading internet companies and VC funds.