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China's HighLight Capital aims to raise total $1b across two funds

VC's 4th dollar fund targets Q3 close, mulls Southeast Asia office, CEO says

Shanghai-based HighLight Capital has backed over 100 companies, with a focus on biopharma, medtech and consumer health; it has nearly $3 billion in assets under management. (Source photo by Reuters and logo from HighLight Capital's website)

HONG KONG -- Shanghai-based venture capital firm HighLight Capital is targeting to raise $650 to $700 million for its fourth U.S. dollar fund, after closing its fourth renminbi fund at 3.1 billion yuan ($437 million) last month.

The combined target of $1 billion comes despite the difficult fundraising environment globally, Steven Wang, the firm's founder and CEO, told DealStreetAsia. The fourth U.S. dollar fund is targeting a close by the third quarter of 2023, Wang added.

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