China's Fibonacci VC closes RMB Fund II at $202m — twice the size of predecessor vehicle

China's Fibonacci VC closes RMB Fund II at $202m — twice the size of predecessor vehicle

Nanshan District, Shenzhen City, China. Photo by Pinnacle Height on Unsplash

Fibonacci VC, a Chinese venture capital (VC) firm created by ex-Fortune Capital partner Xiong Wei, announced on Monday that it has closed its second Chinese yuan fund at 1.3 billion yuan ($201.5 million) — twice as big as the firm’s 650-million-yuan debut fund.