SAIF closes US$643m fund, to invest in China

Venture capital firm SAIF Partners said it plans to invest about 70% of the US$643m it raised for its second technology fund into Chinese companies, The South China Morning Post reported, citing SAIF's managing partner Andrew Yan. Hong Kong-based SAIF, which claims to be the largest technology venture capitalist in China, closed its second fund to new investors last month and has enough cash to invest in another 30 firms, Yan said.