Redpoint China hits first close of RMB Fund II at $102m to back early-stage startups

Redpoint China hits first close of RMB Fund II at $102m to back early-stage startups

Beijing, China

Redpoint China Ventures has reached the first close of its second Chinese yuan fund at 660 million yuan ($101.7 million) to invest in early-stage startups in corporate IT services and advanced technologies, the firm announced on Monday.