LPs that backed the second fund include Alibaba founder and chairman Jack Ma, Hong Kong-based telecommunications group PCCW, which also invested in the firm’s debut vehicle, and sovereign and pension funds, said the Wall Street Journal.
Wei noted that Alibaba is not an LPs in the new fund and Ma invested his own money.
Last month AltAssets reported that Vision Knight was looking to raise $500m for its second fund, or double the $250m raised for its debut vehicle.
The first fund raised 60 per cent of its capital from family offices and individuals, 30 per cent from institutional investors and 10 per cent from the firm’s founders.
It said at the time that it planned to raise the amount provided by institutional investors to between 60 per cent and 70 per cent for Fund II.
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