Registered in Suzhou, China, in May 2011 with total commitment of RMB30 million, FUEL Capital Technology Fund I focused on early- to growth-stage ICT, Medtech and Cleantech companies. Technology Fund I was fully invested in five portfolio companies by mid-2013. The continuity and success of Technology Fund I demonstrate FUEL Capital team’s venture development capabilities and cohesiveness in collaboration over an extended period of time.
Technology Fund I has had one exit and another is expected within the second half of 2016. The first exit was Beijing ZBest, a flow-battery technology company that targets high capacity energy storage markets for renewable energy. Technology Fund I invested in July 2013 and Beijing ZBest was acquired by an A-share listed company in an all-cash offering in March 2016.