Liu Erhai has left Legend Capital, where he was managing director, after 12 years to form Yuyue Capital, which has just raised $200m for its first fund.
Liu Erhai, previously the managing director of corporate venturing unit Legend Capital, has left to form a new firm, Yuyue Capital, with $200m of capital, China Money Network reported today.
Yuyue will target series A and B-stage investments in the TMT (technology, media and telecommunications) area in which Erhai specialised at Legend, as well as consumer technology companies, according to ChinaVenture.
The firm has not disclosed details on the limited partners that put up the $200m for its first fund.
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