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HONG KONG, Nov. 18, 2020 /PRNewswire=KYODO JBN/ --

Leading early-stage venture capital firm Future Capital Discovery Fund ("Future

Capital" or the "Firm") announced the final closing of its fourth USD flagship

fund, USD Fund IV (or the "Fund") with US$187 million in committed capital. The

Fund will continue to focus on investing in early-stage enterprise technology

and game-changing consumer technology companies in the Greater China region.

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In addition to the previous institutional investors, USD Fund IV welcomes

several new endowments; the Fund represents their first allocation to an

early-stage Chinese specialist fund. Other new LPs include prestigious global

fund of funds, family offices, foundations and top-tier HNWI entrepreneurs from

the United States, Europe and Asia Pacific.  

"USD Fund IV marks a major milestone for Future Capital. We are appreciative of

the trust our global LPs have placed in us. Despite the current environment, we

closed the Fund ahead of schedule with a significant oversubscription, which

validates our core investment thesis that digital disruption of traditional

businesses is inevitable and will fuel the next decade of economic growth."

said Mingming Huang, Founding Partner of Future Capital Discovery Fund.

"With China's accelerating industry digitalization, we see huge growth

potential and incredibly strong demand for enterprise technologies that enable

digitized work, business automation, smarter supply chains and logistics. As

structural changes across the economy continue to create new investment

opportunities, our capabilities and track record of sourcing proprietary deals

will enable us to continue to support exceptional entrepreneurs and generate

value for our investors" he added.

Future Capital's fundraise was launched during the height of COVID in late

February. By creating a fully virtual roadshow, Future Capital was able to

effectively and efficiently reach a wide range of quality investors, resulting

in a new fundraising record for the Firm.

Future Capital actively manages three USD and one RMB venture capital funds.

With the close of USD Fund IV, Future Capital has over US$600 million of assets

under management. Future Capital has invested in over 150 companies, including

Li Auto (Nasdaq: LI), Niu Technologies (Nasdaq: NIU), Newborn Town (HKG: 9911),

Sensors Data, Duckbill, Narwal, Encootech, Hose, and Taos Data. Despite the

challenging market conditions in 2020, Future Capital assisted 52 of its

portfolio companies to close subsequent funding rounds and invested in ten new

innovative companies including Edgeworx, Treelab and iLabService. In addition,

Li Auto (in which Future Capital was the company's first investor) successfully

listed on NASDAQ earlier this year and is currently trading at a market cap of

~US$30 billion. Future Capital invested in 7 out of 9 rounds in Li Auto's

subsequent financing throughout the past five years.

As of August 31, 2020, the Firm's venture capital funds were on track to reach

8-10x return and a gross internal rate of return ("IRR") of 45%-55%.  

About Future Capital Discovery Fund

Future Capital Discovery Fund is a specialized early stage venture capital fund

targeting enterprise technology (including enterprise software and SaaS), as

well as selectively allocating to technology-driven consumer ventures that

represent breakthrough innovations. Founded in 2014, the Firm has been

identifying and supporting China's exceptional entrepreneurs in their digital

disruption of traditional industries. Future Capital has offices in Beijing,

Shanghai and Hong Kong SAR.

Visit Future Capital's website for more information: www.future-cap.com  

Source: Future Capital Discovery Fund

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