Gaorong Capital raises $1.15bn

The Beijing-based asset manager has raised capital for its fifth vehicle.

Fund name: Gaorong Partners Fund V
Amount raised: $1.15 billion
Target size: $1.15 billion
Predecessor fund: Gaorong Partners Fund IV

Gaorong Capital has raised $1.15 billion for Gaorong Partners Fund V, according to recent filings with the US Securities and Exchange Commission. The fund will invest in companies in the TMT sector in the Asia-Pacific region. It is unclear whether this is a final close or if the fund manager is seeking further capital.