China’s FutureX Closes $150M Fund II to Invest in Early-Stage Technology Companies
FutureX, a Chinese venture capital firm that invests in early-stage technology companies, announced on July 7, 2023 that it has closed its second fund with $150 million in capital commitments.
The round was led by existing investor Sequoia Capital China, with participation from other investors such as Hillhouse Capital, SoftBank China Venture Capital, and Cherubic Ventures.
The new fund will be used to invest in early-stage technology companies in China. FutureX is focused on investing in companies in the artificial intelligence (AI), big data, and cloud computing sectors. The firm also invests in companies in other sectors, such as healthcare, education, and transportation.
FutureX has a strong track record of investing in early-stage technology companies. The firm’s first fund, which was raised in 2016, has already generated significant returns for its investors. Some of the companies that FutureX has invested in include:
- SenseTime: A Chinese AI company that develops facial recognition technology. SenseTime is now one of the most valuable AI companies in the world.
- Meitu: A Chinese mobile app company that develops photo editing and beautifying apps. Meitu is now one of the most popular mobile app companies in China.
- Mobvista: A Chinese mobile advertising company. Mobvista is now one of the leading mobile advertising companies in China.
The closing of FutureX’s second fund is a sign of the strong growth of the Chinese venture capital market. The market is expected to continue to grow in the coming years, as more and more investors seek to invest in early-stage technology companies in China.
Here are some additional details about the Fund II closing:
- The round was led by Sequoia Capital China, with participation from other investors such as Hillhouse Capital, SoftBank China Venture Capital, and Cherubic Ventures.
- The new fund will be used to invest in early-stage technology companies in China.
- FutureX is focused on investing in companies in the AI, big data, and cloud computing sectors.
- The firm also invests in companies in other sectors, such as healthcare, education, and transportation.
- FutureX has a strong track record of investing in early-stage technology companies.
- The firm’s first fund, which was raised in 2016, has already generated significant returns for its investors.
