GSR Ventures Management Co., an early investor in the Chinese social media app Xiaohongshu—known internationally as RedNote—seeks to raise about $350 million for a new China-focused venture fund, according to people familiar with the matter. Bloomberg reports that the firm is approaching investors for the new fund, using its existing stake in the app as a central part of its pitch. The Next Web describes GSR Ventures as one of the earliest backers of the app and similarly says the planned fund size is about $350 million. The sources agree on the fundraising target and that the RedNote stake is being used to anchor investor interest. They also indicate the matter is at the stage of seeking investors, rather than that a fund has already been formally launched or closed. Details on the fund’s structure, timing, fees, or the proportion of capital tied to specific investments are not provided in the excerpts from either outlet.
GSR Ventures seeks $350 million for new China-focused fund
GSR Ventures Management Co., an early investor in the Chinese social media app Xiaohongshu—known internationally as RedNote—seeks to raise about $350 million for a new China-focused venture fund, acco...
- GSR Ventures Management Co. is seeking investors for a new venture fund.
- The reported target size is about $350 million.
- GSR is an early investor in the Chinese app Xiaohongshu, known internationally as RedNote.
- The firm uses its existing RedNote stake as a central pitch to investors.
SR Ventures Management Co., one of the earliest backers of the Chinese social commerce app Xiaohongshu, is raising about $350m for a new China-focused venture fund and is using its existing stake in the app, known internationally as RedNote, as the central pitch, according to a Bloomberg report on Tuesday citing people familiar with the […] This story continues at The Next Web
3 months agoGSR Ventures Management Co., an early investor in Chinese social media app RedNote, is seeking investors for a new fund, according to people familiar with the matter.
3 months ago
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