Sky9 Capital, a Beijing, China-based early-stage venture capital firm that invests in Chinese technology startups, closed a new set of funds with $440m in capital commitments.
– Sky9 Capital Fund IV, L.P., which concentrates on early-stage startups, mostly at Series A and B funding stages, and
– Sky9 Capital MVP Fund, L.P., which focuses on growth-stage and break-out companies in the Sky9 portfolio.
Sky9 received support from a strong group of world-class institutional investors, including sovereign wealth funds, foundations, pension funds and family offices.
Led by Ron Cao, founder and partner, Sky9 Capital is an early-stage focused venture capital firm investing in internet, enterprise and deep-tech sectors in China.
The firm invests with a systematic, analytical and conviction-based approach, focused on drawing deep market insights and discovering China’s top talents.
The new funds build on top of Sky9’s previous $200m Fund III from two years ago.
Over the past decade, the firm’s team members have invested in some of China’s biggest technology companies, with a number of them having listed on the US and HK exchanges, including: 51VR, eBroker, eCheng, FangDD, Innolight, Lercarlink, Manbang Group, Meituan/Dianping, PinDuoDuo, PPDai, QingCloud, Rong360, Toutiao, Tujia, Zhaoyou and others.