As China’s economy recovers from Covid-19, the country’s top-tier private equity and VC firms are raising billions of dollars for their new tech-focused funds from investors around the world.
Yunfeng Capital, a Chinese private equity firm co-founded by Alibaba founder Jack Ma that also is a major shareholder of financial services firm Ant Group, is in the process of raising $3 billion, two people with knowledge of the fundraising said. Yunfeng is one of at least four well-known China-focused firms to raise funds of $1 billion or more this fall, underscoring how investment capital is being concentrated into fewer, bigger funds in China.
