Early-stage VC firm Cherubic Ventures has announced a US$120 million fund, which will focus on high-tech industry such as SaaS, Virtual Reality, robotics, Machine Learning and cross-border e-commerce across the US, China and Southeast Asia.
The new fund, announced at Cherubic’s annual investment summit in Shanghai last week, has already raised more than US$70 million towards this fund, according to a press statement.
Cherubic has also announced a new office in Shanghai, which will actively organise global forums across Asia and the US. This is in addition to its existing offices in Beijing, Taipei and San Francisco.
Founded in 2010 by angel investor Matt Cheng, Cherubic Ventures is an early-stage venture capital firm providing seed capital to talented entrepreneurs. Till date, the fund has invested in nearly 90 companies in Silicon Valley, China, and Southeast Asia. Its portfolio companies include AirHelp, Chaldal, Hyperloop, Spottly, TechNode, among others.