Fibonacci VC counts up $202m for Fund II close

Sep 15, 2021 •

Fibonacci VC’s second fund is double the size of its debut vehicle, thanks to commitments from LPs including Xiamen C&D and China-Singapore Suzhou Industrial Park Development Group.

China-based venture capital firm Fibonacci VC has closed its latest fund at RMB1.3bn ($202m) with commitments from state-backed conglomerate Xiamen C&D and property developer China-Singapore Suzhou Industrial Park Development Group, DealStreetAsia has reported.

Other limited partners (LPs) committing to Fund II include funds-of-funds CICC Genesis Fund and Oriza FOFs Investment Management in addition to Guangzhou Finance Holdings and Haining Semiconductor Industry Investment Fund. Fibonacci’s management team also backed the fund with their own capital.

Nearly half of the fund’s commitments…

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