VantagePoint Launches $100M China Fund

Venture capital firm VantagePoint Venture Partners has launched a new, $100M (RMB680 million) venture fund in China, focused on clean technology and financial services, the company said Tuesday. According to the firm, the new fund, the Tianjin VantagePoint Hi-tech China FIVCE Fund, the new fund will be managed with Tianjin Hi-Tech Holding Group and Tianjin Binhai Development Investment Holding Co. The firm said China is one of the "key places" where the global clean technology future is being defined, saying it hopes the fund will help build "world-class" Chinese enterprises.