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Future Capital wraps up 3rd US dollar-denominated fund with US$100M

Future Capital corralled US$100 million for its third U.S. dollar-denominated fund, DealStreetAsia reported, citing a company statement.

The latest financing brings the Chinese early-stage venture capital firm's total managed capital to 2.5 billion yuan, the report noted.

Existing investors committed to the fund, alongside charitable foundations, serial entrepreneurs, family offices and European financial institutions.

The venture capitalist, which is managing two U.S. dollar-denominated funds and one yuan-denominated fund, is set to launch fundraising for its second yuan fund soon, according to the report.

As of Oct. 18, US$1 was equivalent to about 6.94 yuan.