Xiangcheng Financial Holdings is among the backers for the first close of the Legend Holdings spinoff's sixth renminbi-denominated vehicle.
Legend Capital, the China-based venture capital firm formed by diversified conglomerate Legend Holdings, launched a RMB10bn ($1.54bn) sixth renminbi-denominated fund yesterday, DealStreetAsia reported.
Formed in 2001 with a $35m commitment from Legend Holdings, Legend Capital operates as an independent venture capital firm but retains the backing of its former parent.
The firm has not revealed how much capital it has secured for Legend Capital Comprehensive Growth Fund VI, but the fund has a RMB10bn target for its close. The state-owned…
