IDG Capital Partners has reached final closing of IDG Capital Fund III with total commitments of US$1 billion, according to a company announcement.
The fund is raised in partnership with Breyer Capital, a Silicon Valley-based venture capital investor.
The new vehicle will focus on investing in next-generation opportunities in technology, media & telecommunications (TMT), healthcare, energy, and consumer products, both in China as well as in global companies looking to enter the Chinese market.
"We are excited about the closing of IDG Capital Fund III, in partnership with Jim Breyer and his venture capital firm Breyer Capital," says Hugo Shong, founding general partner of IDG Capital Partners.
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