Chinese venture firm Shunwei Capital raises $1.21 billion

consolidation , M and A, Startups

Early and growth stage Chinese venture capital firm Shunwei Capital raised $1.21 billion in new funds. The company which raised funds four times in the past, will use funds from this round for investing in internet companies.

India is the second most important market of Shunwei, the venture capital firm started by smartphone maker Xiaomi founder Lei Jun and Tuck Lye Koh. China being the first.

It will now have $3 billion under management, the firm said in a LinkedIn post.  The firm told The Economic Times newspaper it would continue to be proactive in making investments in India. “We like business models that are highly scalable and light, ideally with low touch on offline infrastructure,” Tuck Lye Koh, co-founder and CEO of Shunwei Capital, said in the report.

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Set up in 2011, the firm has made significant investments across China, India and other markets.

According to the firm’s website, Shunwei focuses on mobile internet and Internet of things. “Specifically, we try to capture opportunities where internet and technology fundamentally disrupt how businesses and services are conducted in traditional industry verticals,” it says.

In India:

  • Shunwei led a $100 million investment round last month in Mohalla Tech, which operates ShareChat, a social media platform in Indian languages.
  • In August, it invested $5 million in medical content startup myUpchar as part of a Series A round along other investors.
  • In July, Shunwei led a $5 million Series A round into Bombinate Technologies .
  • It has invested in Mumbai-based LoanTap Financial Technologies.
  • Last April, Shunwei Capital and Accel Partners invested around $3.8 million in Mech Mocha.

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