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Drop in PE funds raised
TWENTY-FIVE China-focused private equity and venture capital funds raised an aggregated US$1.2 billion last month, an industry report said yesterday.
However, the proceeds raised plunged by 79.7 percent from December and tumbled 72.1 percent from a year earlier, said a report released by Zero2IPO Research.
Of the 25 funds, 23 were yuan-denominated funds which raised US$787 million, or 65.6 percent of the total proceeds, data showed.
Capital raised by 14 growth funds totaled US$635 million, accounting for 52.9 percent of the total, followed by US$394 million raised by five seed funds and US$140 million garnered by five merger and acquisition funds.
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