Shanghai-based venture capital firm Linear Venture has held a final close for its third fund, collecting 500 million yuan ($72.53 million) for its Chinese yuan-denominated vehicle and $70 million for a U.S. dollar-dominated vehicle.
The latest vehicles will invest only in data intelligence over the next five years.
Limited partners include founders and executives from Facebook, Twitter and LinkedIn and Chinese internet giants Baidu, Alibaba and Tencent.
Chinese group buying website Meituan Dianping, online travel services platform Qunar.com, fund-of-funds in China and the U.S., family offices and Asian asset management firms also backed the latest funds.