China's Gaorong Capital closes USD- and RMB-denominated funds for $1.5b

China's Gaorong Capital closes USD- and RMB-denominated funds for $1.5b

Fund

Gaorong Capital, a Beijing-based venture capital firm focused on early- and growth-stage investments, has closed two funds — a new RMB-denominated fund and its fifth USD fund — at over 10 billion yuan ($1.5 billion), the company announced on WeChat on Monday.