GenBridge Capital raises $500m

The Beijing-headquartered firm held a final close for its debut fund.

Beijing-headquartered firm GenBridge Capital has raised $500 million for its GenBridge Capital Fund I, hitting the hard-cap of the fund.

Investors in the fund include GIC, Asia Alternatives and the International Finance Corporation.

The firm started fundraising in March this year. It will use the capital to make venture capital investments in the retail sector in China.