Inspiration Capital, a spinoff from China-based venture capital firm Qiming Venture Partners, has closed a yuan-denominated fund at RMB500m ($73m) thanks to multiple corporate backers, according to DealStreetAsia.

Electrical equipment and services company Hexing Electrical, environmental services provider CSD Environment, copper processor Hailiang and quantitative trading firm SIG all backed the fund, the latter through the SIG Asset Management’s Growth FOF.

Shanghai Jiao Tong University and China Development Bank’s SDIC Unity Capital are also among the limited partners, as are a host of unnamed government-backed funds and assorted private investors.

Inspiration Capital, which also operates using the name Qigao Capital, will focus on sectors such as environmental technology, smart manufacturing, cleantech and automotive technology. The firm is led by Qiming’s former leads for cleantech deals and was spun off in May 2019.

The firm has already invested in x-ray technology producer iRay Technology, which went public earlier this month in a $318m IPO on the Star Market.

Its portfolio also includes fibre laser products vendor GW Laser Tech, laser technology comapany Dogain Laser Technology, laser process assessment systems supplier Diligine Technology and environmental protection company Qingyan Environment.

The original version of this article appeared on our sister site, Global University Venturing.

Inspiration Capital, a spinoff from China-based venture capital firm Qiming Venture Partners, has closed a yuan-denominated fund at RMB500m ($73m) thanks to Shanghai Jiao Tong University, according to DealStreetAsia.
Electrical equipment and services company Hexing Electrical, environmental services provider CSD Environment, copper processor Hailiang and quantitative trading firm SIG all backed the fund, the latter through the SIG Asset Management’s Growth FOF.
China Development Bank’s SDIC Unity Capital is also among the limited partners, as are a host of unnamed government-backed funds and assorted private investors.
Inspiration Capital, which also operates using the name Qigao Capital, will focus on sectors such as environmental technology, smart manufacturing, cleantech and automotive technology. The firm is led by Qiming’s former leads for cleantech deals and was spun off in May 2019.
The firm has already invested in x-ray technology producer iRay Technology, which went public earlier this month in a $318m IPO on the Star Market.
Its portfolio also includes fibre laser products vendor GW Laser Tech, laser technology comapany Dogain Laser Technology, laser process assessment systems supplier Diligine Technology and environmental protection company Qingyan Environment.