China-focused Xiang He Capital makes initial close of second VC fund at $378m

China-focused Xiang He Capital makes initial close of second VC fund at $378m

A clerk counts Chinese yuan and U.S. dollar banknotes at a branch of Bank of China in Taiyuan

Xiang He Capital, a California-based venture capital firm that invests in China’s TMT sector, has made a first close of its second fund at $378.4 million, higher than the initial target of $350 million, according to a regulatory filing.