A Palo Alto, CA-based newly formed venture capital firm – iFly Venture – has launched its first fund.
According to a regulatory form filed with the SEC, iFly Venture Fund, L.P., is raising $100m.
The doc lists VC professionals Han Shen and Haitao Zhang as people related to the offering.
Han Shen was the former partner at Formation 8, associate at VantagePoint Capital Partners, and venture investment consultant at ARCH Venture Partners and Mohr Davidow Ventures,
Haitao Zhang was the Asia Business Development Operating Partner at Formation 8, focusing on China, associate vice president of Golden Concord Holding Ltd.(GCL), a Chinese holding company in the renewable energy industry, including GCL-POLY, a a Poly silicon and wafer manufacturer subsidiary listed on the Hong Kong Stock Exchange (HKSE:3800).