Chinese VC Xiang He Capital in the market to raise third USD fund

Chinese venture capital firm Xiang He Capital has hit the market to raise its third USD-denominated fund, its filing with the US Securities and Exchange Commission (SEC) showed. The filing for Xiang He Fund III comes about three years after the firm, established in 2016 by former Baidu investment executives Hesong Tang and Maggie Yang, closed its second USD-denominated fund at an increased hard cap of $425 million.