Xiaomi Founder Lei Jun Raises First RMB Fund To Back Homegrown Chinese Startups

Xiaomi powerhouse Lei Jun doesn’t stop! Just as Chinese New Year gets underway comes news that the founder of China’s most popular smartphone has raised 1 billion RMB ($160 million) to invest in more Chinese tech and Internet startups.

This is the first RMB-denominated fund for his Shunwei Capital. This gives Shunwei the ability to fund localized startups and exit from these deals within China as they go public.  It’s another advancement for China’s homegrown tech innovation.

See Forbes, Shunwei RMB fund.