Unicorn raises $210m for China VC fund-of-funds
Thursday, April 07, 2016
(AVCJ by Tim Burroughs) – Unicorn Capital Partners, a China-focused venture capital fund-of-funds launched by Emerald Hill Capital Partners alumnus Tommy Yip, has closed its debut fund at about $210 million.
The firm was set up in January 2015 and soon raised a small corpus of around $60 million from a handful of anchor LPs, which enabled capital to be put to work ahead of a wider fundraise. Unicorn subsequently deployed the money in a combination of primary and secondary investments.
The remainder of the fund was raised over the course of a seven-month period that ended in December of last year, according to a source familiar with the situation.
