ATM Capital got about halfway to its $200m target with help from Alibaba and 58.com before the coronavirus hit fundraising efforts.
China-based, Southeast Asia-focused venture capital firm ATM Capital has closed a fund backed by corporates Alibaba and 58.com at about $100m, DealStreetAsia reported yesterday, citing sources privy to the development.
Founded in 2017, ATM Capital aims to bring Chinese expertise to bare helping Southeast Asia-based startups grow. The fund is its first and it had set a $200m target for its final close, but sources told DealStreetAsia the Covid-19 crisis had impacted fundraising activities.
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