IDG Ventures on track for latest US early stage VC fund

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Early-stage investment firm IDG Ventures has raised $65m towards its latest US-based VC fund, which is targeting $100m.

IDG Ventures USA III has a further $35m to raise, according to a filing with the SEC.

The firm operates a number of funds across the globe with offices in Korea China, India and Vietnam. IDG’s San Francisco-based team invests in new media, consumer internet and enterprise IT.

In total IDG has $3.6bn under management and a portfolio of over 220 companies. Limited partners include including International Data Group (IDG), the world’s largest IT media company.

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