Supply chain-focused Chinese VC Buhuo Ventures closes master fund at $243m
Fund
May 18, 2021
Buhuo Ventures, a Beijing-based venture capital firm specialising in early- and growth-stage startups, announced on Tuesday that it has secured the final close of a new master fund at 1.565 billion yuan ($243 million).
The master fund comprises an 818 million yuan ($127 million) RMB-denominated fund — Buhuo’s second — and a $115 million maiden USD fund.
In the statement, Buhuo said the capital commitments for the RMB fund came from leading Chinese financial groups, investment firms, govt-led industry funds, funds of funds (FOF), and family offices, among others. The debut dollar fund attracted limited partners (LPs) from the US besides Asia’s marquee dollar-led FOFs and family offices.