Shenzhen Capital Group raises $302m

The Shenzhen, China-based investment firm has held a first close of its latest funds.

Shenzhen Capital Group has corralled CNY1.8 billion ($265 million, €229.1 million) and CNY250 million ($36.8 million, €31.8 million) from its first close of Shenzhen Qianhai Hongtu M&A Fund and Shenzhen Hongtu Angel Investment Fund respectively.

The M&A fund, which is the firm’s first buyout fund, will invest in emerging start-ups in China, and the Angel fund will target information technology, new materials, biotech sectors in China.