Sky9 Capital, a China-focused venture capital firm, closed its third fund at $200m.
Limited partners included institutional investors, family foundations and entrepreneurs.
Sky9 Capital Fund III, L.P. invests mainly in China-based businesses with a focus on early-stage companies in the internet, enterprise, and deep technology sectors. It invests between $1M to $10M in seed and Series A rounds, and $10M+ for expansion-stage companies.
Led by Ron Cao, Founder & Managing Director, Sky9 has a team of a group of technologists, entrepreneurs and investors who have participated previously in the early-stage investments of some of the biggest technology companies in China including: DaVdian, eBroker, FaceU/Toutiao, FangDD, Innolight, Meituan/Dianping, ManBang Group, PPDai, PinDuoDuo, QingCloud, Rong360, Tujia, ZhaoYouWang and others.
With presence in Beijing, Shanghai, Shenzhen, and Silicon Valley, the firm has made a number of investments in the new fund including:
– ZhaoYouWang, a B2B e-commerce platform for the petroleum industry;
– eBroker, a Chinese online marketplace for wealth management;
– Home, a social e-commerce platform for home furnishing; and
– Energy Monster, a power bank sharing platform.