XVC raises $330m

The Beijing-based venture capital firm held a final close on its second fund.

XVC has held a final close for XVC Fund II at $330 million, surpassing its fundraising target of $265 million.  The vehicle will primarily focus on early-stage investments in China.

Investors in the fund include university endowments and family offices in the US, Europe and Asia.

XVC manages over $600 million of assets as of 20 June 2019.