International Data Group's 22-year old Chinese corporate venturing affiliate has backed companies including Tencent, Baidu and Ctrip at early stage.
IDG Capital Partners, the Chinese corporate venturing affiliate of US-based media and data company International Data Group, is raising a $1bn fund, according to a regulatory filing on Friday.
IDG Capital has not yet raised any money for IDG China Capital Fund III, the filing stated. Founded in 1993 as IDG Ventures China before rebranding itself in 2009, IDG Capital was one of the first foreign entrants into China’s venture capital space.
The unit provides seed, venture and growth-stage funding,…
