China's Plum Ventures closes $50m USD fund to back startups going overseas

China's Plum Ventures closes $50m USD fund to back startups going overseas

Traffic move down the third ring road in Beijing, China, on Monday 15 May, 2017. Photographer: Qilai Shen/Bloomberg

Chinese investment firm Plum Ventures has secured about $50 million for a USD-denominated fund to invest in domestic companies with a potential to expand to markets such as Southeast Asia, India and the United States.