Ameba Capital, a leading venture capital firm in China, announced the closing of a US$265 million US dollar fund, which is seeded with several China’s leading “Software as a Service” (SaaS) companies and additional capital to make early-and venture growth-stage SaaS investments in the region. The fund, which is Ameba Capital’s debut US dollar fund, is recognized as the world’s first fund focusing on China SaaS investment opportunities.
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The fundraising attracted leading investment institutions from Europe, North America, the Middle East and Asia, including sovereign wealth funds, global fund of funds, technology industrial groups and prominent family offices. NewQuest Capital Partners and its co-investors led the transaction as lead investors.
Founded in 2011, Ameba Capital is one of the first venture capital firms to invest in China’s SaaS sector and has successfully backed a number of unicorns with significant stake and influence. Its portfolio companies include Jushuitan, Yao Inno, Leyan Technology, Xiaoyang Education and BY AI, which are recognized as China’s top SaaS companies in the e-commerce, healthcare, and education sectors, respectively. Ameba Capital believes in the tremendous potential of China’s SaaS businesses, and believes that the China SaaS space will maintain its rapid growth trajectory over the next two decades.
Kevin Wang, Founding and Managing Partner of Ameba Capital, stated, “Despite challenges posed by uncertainties around the US dollar fundraising market, Ameba Capital successfully raised the largest first-time China technology-themed US dollar fund of the year. The success reflects the market’s confidence in Ameba Capital and that it is increasingly becoming the partner of choice for aspirational entrepreneurs and fast-growing SaaS businesses.”
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