University endowments have backed a dollar-denominated venture capital fund from M31 Capital, whose earlier investments include Grail.
China-based investment firm M31 Capital has closed a $450m dollar-denominated fund having extended the contribution of existing LPs including unnamed university endowments, DealStreetAsia has reported.
The fund had originally sought $400m but reached this objective in early 2020 and was then expanded due to continued investor appetite.
M31 Capital has also secured contributions from unnamed insurance firms, sovereign wealth funds, family offices, fund-of-funds and individual entrepreneurs.
Founded in 2018, M31 Capital expects to back 12 to 15…
