Northern Light closes $236m second fund

The China-focussed venture firm has closed a second fund twice the size of its debut vehicle, just one year later.

Northern Light Venture Capital has raised $236 million (€161 million) for its second fund, according to chief financial officer Jeff Lee. The firm came back to market just one year after closing its debut fund, and raised nearly twice as much capital.

The China-focussed firm was founded in 2005 by Feng Deng and Yan Ke, two Chinese executives who earlier co-founded US tech company NetScreen Technologies. The firm raised $120 million for its debut fund last year.

Venture firms Greylock Partners and New Enterprise Associates are limited partners in both of Northern Light’s funds, and also provide advisory and operational support for the venture firm.

Lee was unable to comment on the fundraising process or the new fund’s strategy.

Northern Light’s portfolio includes online dating service Baihe.com, mobile social network 3GPP and online retailer Redbaby.

The firm has offices in Menlo Park, Beijing and Shanghai.