TEEC Angel Fund (TAF), which seeks to close the innovation gap between Silicon Valley and China, closed its third vehicle at $30m.
Raised in six months, the fund is comprised of more than 6% capital contribution from TAF fund partners, with other investors including Tsinghua Holdings, Acorn Pacific Ventures, as well as several entrepreneurs in the U.S. and China.
Led by Eugene Zhang, general partner and founding member, TAF also announced the launch of a new incentive compensation model, called “Shared Return Program”, which seeks to align fund compensation with current investment processes. carry will be no longer strictly limited to the fund’s partners but will allow deal contributors to share a portion of deal profits.
Created five years ago by a group of Tsinghua University alumni, the fund includes startups from a wide spectrum of industries, including biotech, healthcare, consumer, enterprise, financial services and hardware. The portfolio includes KPI Therapeutics, Aromyx, Vango, HigherMe and other startups, which have raised more than $450m.
FinSMEs
04/11/2015