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FountainVest Partners pulls in 1.7B yuan for 1st yuan-denominated fund

FountainVest Partners raised 1.7 billion yuan for its first yuan-denominated fund at final closing, DealStreetAsia reported, citing AVCJ.

The private equity firm, which has raised three U.S. dollar-denominated vehicles, did not immediately respond to a request for comment by the news outlet.

As of Dec. 18, US$1 was equivalent to about 6.89 Chinese yuan.