BAI Capital is the second Asian venture affiliate of the media group to close a huge fund in the past month, having brought on limited partners including internet and insurance groups.

Bertelsmann’s Chinese venture capital arm, BAI Capital, has received external investment for the first time to close a $700m fund today that will help portfolio companies expand overseas. “We would like to express our sincere gratitude to our investors for their strong support of our inaugural USD-denominated fund, which is a testament to the BAI…

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