Northern Light Venture Capital announced last week that its second fund, the Northern Light Venture Fund II, had reached its US$350 million target and was now closed.

Trading Markets was among a number of news sources that covered the announcement. The new venture capital fund will focus on investing in technology, media and telecommunications, and consumer-related companies in China.




The fund's investors include a broad range of government funds, endowments and non-profit foundations. There are investors from the United States, Europe and Asia.

The focus of the fund will be primarily on "early stage opportunities in businesses that either target China market opportunities or leverage global opportunities from a China base."

In a press release, Northern Light executives said:

There are exciting market opportunities in China and Northern Light Venture Capital is proud to play a role in supporting entrepreneurs build globally recognized enterprises from within China. We are fortunate to have many friends in the entrepreneurial, venture capital, and limited partner community that strongly support our mission and this is will be reflected in our Fund II activity.