Another contrarian over-raised
On September 3, Qihe Capital announced the completion of the $425 million second-phase fundraising. Earlier this year, Haohe Capital had completed the first RMB 1 billion fundraising. The new fund will continue the previous investment theme, focusing on the early and growing opportunities of the TMT industry, focusing on the Internet +, corporate services, artificial intelligence and big data, consumer and entertainment circuits.
From 2018 to the present, “funding difficulties” has become a common phenomenon in the industry. Under this cold winter of capital, Qihe Capital, as an emerging fund, surpassed the trend and over-raised, and the subscription scale significantly exceeded the original target. Qihe Capital adheres to the boutique fund line, adheres to investment strategies and discipline, and controls the appropriate fund scale. The new US dollar fund investors include world-renowned university foundations, pension funds, charitable funds, veteran family offices, parent funds and a group of top successful entrepreneurs. The geographical distribution of investors is also more diversified, from North America. , Europe, Asia, the Middle East, Australia and other regions. RMB fund investors include the most well-known institutional investors, parent funds and successful entrepreneurs in the country.
Tang Hesong, founding partner of Qihe Capital, said: “Wuhe Capital can successfully complete the fundraising of the US dollar and RMB funds. Thanks to investors for their recognition of Qihe Capital team, investment strategy and historical performance. With the new fund, we will continue to find the best companies, give full play to our unique industrial strategy background, provide entrepreneurs with truly valuable services, help them realize their entrepreneurial dreams, and fulfill our ‘helping entrepreneurs and changing the world’. Mission.”
Founded in May 2016, Haohe Capital is a venture capital fund focused on early and growing opportunities in TMT.
At present, it manages 2 US dollar funds and 1 RMB fund, with a total management scale of more than US$1 billion. Most of the investment projects have grown into head star companies in various fields, including Yun Manchu (full help), cargo pull, VIPKID, homework, iQiyi, fast-view comics, Shensi data, think technology, Beidian , Guanyuan data, etc.
襄禾 Capital was founded by Mr. Tang Hesong, former vice president of Strategic Investment M&A of Baidu, and Maggie, executive director. Mr. Tang Hesong once led and fully responsible for Baidu’s strategic investment mergers and acquisitions, and led the well-known investment cases such as Baidu Investment, Iqiyi, and the acquisition of 91 Wireless and PPS. Yangliu assisted Tang Hesong to complete the above-mentioned major investment mergers and acquisitions projects, and led the completion of investment in fast hands, chain homes and so on. The main members of the team are from the former Baidu Strategic Investment Department, other first-line Internet companies and VC funds. The entire team has strong strategic analysis and investment experience.