Venture Capital Firm Meridian Raises $329 Million for Yuan-Denominated Fund That Targets Technology, Retail

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Ding Yi / May 21, 2021 07:06 PM / Business & Tech

Shanghai-based venture capital firm Meridian Capital has announced the final closing of its yuan-denominated Fund VI at 2.12 billion yuan ($329 million), pushing the total assets under its management to 8.5 billion yuan.

Fund VI will focus on investing in technology, new retail and corporate service startups, Meridian said in a statement on Thursday.

Currently, Meridian manages two Singapore dollar-denominated funds and six yuan-denominated funds, which focus on investing in early- and growth-stage startups in mobile internet, technology, media and telecommunications, according to its website.

Since its founding in 2008, Meridian said it has invested in more than 190 companies, of which 17 companies have begun IPO procedures, according to the announcement.

Contact reporter Ding Yi (yiding@caixin.com)

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