Beijing-based venture capital firm XVC is looking to pick up $265m of commitments for its second fund.
The firm has registered XVC Fund II with US Securities And Exchange Commission, according to a filing published earlier this week.
XVC has yet to register any capital commitment for Fund II, the filing shows. It is unclear when the VC might hold its next close for the fund, however the documents add that the firm does not intend for the raise to last longer than 12 months.
The investment strategy of the fund is currently unclear, however XVC targets platforms that leverage connectivity, applications that produce data that can be used and companies set to become the cores of next-gen eco-systems, the firm said on its website.
XVC usually invests between $1.5m and $15m per company or its equivalent in RMB.
The firm was founded in 2016 by former Blue Lake Capital partner Boyu Hu who also was investor at fellow China-based venture firm DCM.
Copyright © 2019 AltAssets