Invengo has joined Shenzhen HTI Venture Capital to launch a fund aligned with its IoT business that is initially aiming to raise about $43m on the way to a $145m targeted close.
China-based radio frequency identification technology provider Invengo is set to launch an internet-of-things (IoT) fund that will target RMB1bn ($145m) in capital for its final close, China Money Network reported yesterday.
The fund has set a target of about RMB300m for its first close and the partners plan to open up a second tranche once it has secured 80% of the initial threshold, equating to roughly $35m.
Invengo is launching the vehicle in partnership with investment firm Shenzhen HTI Venture…
