Acer spin-off iD TechVentures aims to raise $300m in local currency and dollar-denominated China funds.

ID TechVentures, a China-based venture capital firm focused on early stage tech companies spun out from computer maker Acer, is preparing to raise nearly $300m in two funds over the next year.

Of the two planned funds, one would be a Chinese yuan fund targeting RMB400m to RMB500m ($59m to $73m) to launch around July or August, York Chen, founding managing partner of iD TechVentures, said in an interview with newswire Reuters.

The other fund would be a $200m fund that would…