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Location: Home > News > Fundraising > Yu Minhong’s Second Startup: Hong Tai Fund Raises RMB200M from Tens of LPs

Yu Minhong’s Second Startup: Hong Tai Fund Raises RMB200M from Tens of LPs

By , China Business News
Updated: 2014-11-19 13:22:16

After investment in several funds, Yu Minhong, the 52-year-old Founder of New Oriental Education & Technology Group didn’t feel the joys of investment, so he decided to set up an angel investment fund together with Sheng Xitai, an old hand in PE industry.

The fund named “Hong Tai” is expected to be officially launched. With RMB200M of initial fundraising, the fund will focus on the angel and early-stage projects in media, culture, education, entertainment as well as high-tech and mobile Internet industries; it also plans to invest in Silicon Valley in the future.

 

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