Chinese venture capital firm ZWC Ventures announced that it has closed its first Southeast Asia and China fund at USD 150 million.
One of ZWC’s largest limited partners (LPs) for its first fund is Jason Jiang, the founder and chairman of Focus Media, one of China’s largest private media and advertising companies. ZWC’s other LPs include corporates, fund of funds, family offices and high net worth individual in mainland China and Hong Kong.
ZWC Ventures says it has channeled USD 100 million to five investments in the region so far, which include Singapore’s online tuition startup Tenopy and Jakarta-based media company Target Media Indonesia. The firm has also invested in an unnamed Indonesian e-commerce platform and is currently eyeing potential investments in an Indonesian logistics first-mile provider and Singapore-based AI startup.
(picture source: Kr-Asia)