Sky9 Capital Closes Two New Funds – Total $440 Million
BEIJING, Sept. 10, 2019 (GLOBE NEWSWIRE) — Sky9 Capital, an early-stage venture capital firm that invests in Chinese technology start- ups, announced today that it has closed a new set of funds with $440 million in capital commitments, including Sky9 Capital Fund IV, L.P. and Sky9 Capital MVP Fund, L.P. The new funds build on top of Sky9’s previous $200 million Fund III from two years ago. Fund IV will continue to concentrate on early-stage start-ups, mostly at Series A and B funding stages, while the MVP Fund will focus on growth-stage and break-out companies in the Sky9 portfolio.
Sky9 received overwhelming support from a strong group of world-class institutional investors, including sovereign wealth funds, foundations, pension funds and family offices. Sky9 invests in Chinese internet, enterprise, and deep technology sectors. The over- subscribed fundraise signals Sky9 and its partners’ excitement, confidence, and commitment to China’s great entrepreneurs and the next generation of high-impact companies.
Ron Cao, founder and partner of Sky9 Capital, commented: “We are privileged to have worked with so many remarkable entrepreneurs. Having witnessed multiple economic cycles over the past two decades, we believe we are entering into an unprecedented new phase of technology innovation. The potential disruptions around internet, media, commerce, software, infrastructure and AI are perhaps greatest around the Chinese start-up ecosystem as the country’s entrepreneurial environment continues to mature and develop. We are excited to work with a great group of investors and partners on this amazing journey ahead.”
Over the past decade, Sky9 Capital’s team members have invested in some of China’s biggest technology companies, with a number of them having successfully 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.