Chinese clean-tech venture capital firm Tsing Capital has launched its fifth flagship fund, the China Environment Fund V, L.P., with a fundraising target of US$300 million.
The fund will make venture capital investments in companies with both a nexus to China and focus on clean-tech sectors, according to a company announcement.
Hong Kong-based New Concept Holdings Ltd., which provides environmental protection and construction services, has agreed to be a limited partner in the fund, committing US$5 million.
In 2011, Tsing Capital launched China Environment Fund IV, L.P., raising a total of US$250 million. In 2012, BASF Venture Capital GmbH invested US$5 million in the fund. Other investors included key development financial institutions, renowned family offices, strategic multinational corporations, and Fortune 500 companies.
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