DNV Capital raises CNY610m

The Chinese venture capital firm closes its fifth CNY-denominated fund.

DNV Capital has closed DNVC RMB Fund V on CNY610 million ($87.3 million; €78.1 million). The fund will be focused on the TMT sector in China.

As of December 2019, DNV Capital managed five CNY-denominated funds and five USD-denominated funds, with CNY3 billion ($859.2 million; €769.2 million) assets under management.