China-based growth capital investor WestSummit Capital has raised $325m for two new funds.
The firm secured $225m for m Fund II, which will be focused on investments in North America and China, and $100m for Summit Bridge Capital, which will invest in Europe and China.
Summit Bridge Capital is managed jointly by Summit and European growth capital firm Atlantic Bridge.
The firm noted that its Fund II exceeds the size of its first fund by more than three times. The new fund will make investments of $5m to $15m in internet and digital media, SaaS and cloud computing, mobile and IT-enabled cleantech companies.
Current investments in Fund II include Unity, Twitch, Mirantis, Verisilicon, and Union Optech.
WestSummit managing partner Raymond Yang said, “Technology innovation knows no borders, and we are excited to serve as a value-added partner to connect the China market with leading technologies from around the globe.
In September last year WestSummit participated in a $20m Series C funding round for video platform and community for gamers Twitch.
Copyright © 2014 AltAssets