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Ex-Baidu Senior VP Establish Angel fund With a Fundraise of CNY200 Million For Its Debut

January 15, 2020 0:03 pm

Beijing (PingWest)- Longzhong Xinyi Fund, a venture capital firm established by former Baidu senior vice president Xiang Hailong, has raised CNY200 million for a RMB-denominated fund on its debut, roughly seven months after Xiang announced his departure from Baidu in May last year.

The fund will mainly focus on investments in angel-stage startups that aim to provide products and services to corporate clients.

Limited partner of the fund is still unknown.