Firstred Capital raises $1.05bn

The Chinese investment firm has closed its buyout fund.

Fund name: Firstred Fund I
Amount raised: 6.8 billion yuan
Target size: 6.8 billion yuan
Stage of fundraising: Final close
Final close date: January 2021

Firstred Capital has held a final close on Firstred Fund I on 6.1 billion yuan ($1.05 billion; €861.0 million). Capital raised by the fund will be used to invest in the technology, media and telecom sectors in China.