Ten China-focused private-equity and venture-capital funds raised US$1.67 billion in February, a surge of 257 percent from a year earlier, Shanghai Daily said Wednesday, citing a Zero2IPO Research Center report. Of the 10 funds, four are yuan-denominated and raised a combined US$131 million, while six US-dollar funds raised US$1.53 billion, or 92 percent of the total, the report said. “China has become a major market for foreign funds as VC/PE activity here has been warming up since the fourth quarter of 2013 after going through a significant downturn,” Zero2IPO analyst Ma Li was quoted as saying in the report. Funds raised in February declined 61.6 percent from the previous month due to the impact of the Lunar New Year holiday, the report said.
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