Gaorong Partners Fund IV’s $500 Million Fundraising

Cooley advised Gaorong Capital on the closing of its fourth flagship US dollar fund, Gaorong Partners Fund IV, at $500 million of investor commitments.

As one of China’s most active venture capital firms, Gaorong has developed deep domain expertise and insight into the technology, media and telecom sectors. Gaorong Partners Fund IV will focus on early- and growth-stage investments in the technology, media and telecoms sector, such as new consumption, new technology, industrial internet and enterprise services.

Gaorong now manages nine funds with a total size of 15 billion renminbi (around $2.2 billion). Upon the closing of its third US dollar fund at $400 million and its renminbi Growth Fund at 2.5 billion renminbi in the first quarter of 2017, Gaorong has also become the first China VC firm that has crossed the 10 billion renminbi threshold within three years after its founding. Cooley has advised Gaorong since 2014.

Cooley advised with a team including Jordan Silber (Picture), Xun Zeng, Paul Roberts, Jingyi Xu and Sheryl Dai.

Involved fees earner: Sheryl Dai – Cooley LLP; Paul Roberts – Cooley LLP; Jordan Silber – Cooley LLP; Jingyi Xu – Cooley LLP; Xun Zeng – Cooley LLP;

Law Firms: Cooley LLP;

Clients: Gaorong Capital;

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Author: Ambrogio Visconti