5Y Capital raises $2bn

The Shanghai-based venture capital firm has closed its latest dual-currency funds.

Fund name: 5Y Capital RMB Fund, 5Y Capital Growth Fund I, 5Y Capital Evolution Fund II and their co-investment vehicles
Fund size: $2 billion in total
Stage of fundraising: Final close

5Y Capital has announced the final close on its latest USD and RMB funds. The closing on USD vehicles, including 5Y Capital Growth Fund I, 5Y Capital Evolution Fund II and their co-investment vehicles, brought more than $1.7 billion in total.

The yuan vehicle, 5Y Capital RMB Fund, raised 1.79 billion yuan ($273.4 million; €229.8 million) on its final close.

Capital raised for the funds will invest in early-stage and growth-stage information technology companies in China.