Early and growth-stage funding agency Vitalbridge Capital has closed its second USD-denominated fund, thereby securing a complete of $275 million in capital dedication, it introduced on Monday.
Its newest greenback fund, which launched in Could this yr, is oversubscribed by about $20 million.
The fund has seen the participation of each current and new restricted companions (LPs) – these embody fund-of-funds (FoF), household workplaces, insurance coverage teams, and foundations.
In a press release, the agency says that it plans to deploy the capital raised to as much as 30 tasks in synergy with digital healthcare and company service.
Vitalbridge Capital earlier raised $150 million for its debut dollar-denominated fund in July final yr, from home and worldwide institutional buyers like web entrepreneurs, listed teams, abroad FoFs, and household workplaces.
Over the previous yr, Vitalbridge has invested the maiden fund to greater than 10 firms together with cloud computing monetary service platform Maycur, PubLink, 3D printer Polly Polymer, software program developer Miaoxiang, and buyer relationship administration cloud platform Dustess, amongst others.
Jinjian Zhang, a former govt officer at Temasek Holdings-backed Trustbridge Companions, based Vitalbridge in 2019.
With workplaces in Shanghai and Hong Kong, Vitalbridge assist know-how innovation-led new service industries. With a deal with three areas – digitalized orthodontics, digitalized constructions, digitalized enterprise administration.
Vitalbridge, which up to now solely launched greenback funds, invests as much as $30 million in single funding in early and progress stage startups.
Earlier than Vitalbridge Capital’s present US greenback fund, final week, China Renaissance’s funding arm Huaxing Progress Capital had held the primary shut for its fourth US greenback fund at practically $550m, with a goal to boost $1.2 billion.