Still Capital For Tech Investment

GSR Ventures, a venture capital firm which invest in early and growth stage technology companies with operations in China, announced the close of its new fund GSR Ventures III on January 5 demonstrating that there is still capital around for investment in the technology sector. The fund, which was over-subscribed, raised US$383mn. It also announced its first investment in iLemon Group, a Shanghai-based gaming company that develops 3D virtual worlds. One of the firm's Managing Directors Sonny Wu said that they are expanding into new sectors like green technology, 'building on our early success in the first two funds'.

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