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Morningside Venture Capital collects over US$1B for dollar fund

Morningside Venture Capital secured more than US$1 billion in capital for its U.S.-dollar fund, China Money Network reported, citing the investor's announcement.

The Chinese private equity and venture capital firm will continue to use the capital to fund Chinese early-stage technology startups in the social-networking enterprise services, artificial intelligence, biotechnology, healthcare, education, e-commerce, mobility and housing-related industries.

The fund drew investors including endowment funds, family offices, pension funds, sovereign wealth funds, fund-of-funds and foundations.