Fortune Venture Capital raises $665m

The Shenzhen, China-based venture capital firm has held a final close for its latest fund.

Fortune Venture Capital has corralled CNY4.63 billion ($665 million, €585 million) for Fortune Chuangtong Fund. The fund will target consumer goods, manufacturing, biotech, healthcare, renewables and TMT sectors in China.

The fund attracted institutional investors including China Merchants Bank and China Merchants Capital, government guidance funds including Kunpeng Capital, parent funds including Beijing Shougang Construction Group and Hunan TV & Broadcast Intermediary, and individual limited partners.

Established in 2000, the firm is now managing over CNY30 billion ($4.3 billion, €3.79 billion).