China‘s HighLight Capital Aims to Raise $1 Billion Across Two Funds

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Fundraising for Chinese funds with U.S.-based limited partners (LPs) has been especially challenging from the added pressure of geopolitical tensions between two of the world’s biggest economies. Photo: VCG

(DealStreetAsia) — Shanghai-based venture capital (VC) firm HighLight Capital is targeting to raise $650 million to $700 million for its fourth U.S. dollar fund, after closing its fourth RMB fund at 3.1 billion yuan ($437 million) last month.

The combined target of $1 billion comes despite the difficult fundraising environment globally, the firm’s founder and CEO Steven Wang told DealStreetAsia. The fourth U.S. dolalr fund is targeting a close by the third quarter of 2023, Wang added.