Chinese TMT-focused Panda Capital Raises $105M As Its Second RMB Fund
Jul 12, 2018
Shanghai-based technology, media, telecom (TMT) focused venture capital Panda Capital announced that it has completed raising RMB700 million (US$105 million), making this its second RMB fund. The capital was secured from investors including Sequoia Capital, IDG Capital, Redbud Capital, and CICC Genesis – co-founded by National Development and Reform Commission, Ministry of Finance and CICC. The new fund will focus on AI, new retail, mobility, entertainment, fintech and smart healthcare. Launched in 2015 by four co-founders, Panda Capital invests from angel round to series B round in TMT companies. Its investment portfolios includes bike-sharing platform Mobike, artificial intelligence firm Face++, and Tencent-backed healthcare solution platform We Doctor. Panda Capital also said it is close to completing a fundraising for its first USD fund.