Time Publishing and Media has invested in Qingsong Fund’s latest renminbi-denominated fund, which has now closed.
China-based venture capital firm Qingsong Fund has raised RMB1bn ($153m) to close its fourth renminbi-denominated fund, which was backed by publishing firm Time Publishing and Media, DealStreetAsia reported yesterday.
The fund’s other limited partners include the Chinese-state managed Qianhai Inno-Tech Investment fund as well as undisclosed corporate backers, government-backed funds, funds of funds, family offices and individual investors.
Qingsong was founded in 2012 and focuses on areas such as education, consumer brands and technology. It manages six renminbi-denominated investment funds…
