Future Capital has invested in over 150 companies, including Niu Technologies

▤ Summary

Future Capital closed its fourth USD flagship fund (USD Fund IV) at US$187 million, oversubscribed and closed ahead of schedule despite COVID-19. The Fund will target early-stage enterprise technology and disruptive consumer tech in the Greater China region, with emphasis on enterprise software and SaaS. Future Capital now manages over US$600 million across its funds and has invested in more than 150 companies, including Li Auto and Niu Technologies, while attracting new endowments, fund-of-funds, family offices and HNWIs as LPs. The firm reported strong portfolio momentum—helping many companies raise follow-on rounds—and stated its funds were on track to deliver 8–10x returns with a 45%–55% gross IRR as of August 31, 2020.

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