York Chen, partner of iD TechVentures Inc. ("iDT") announced on his new book release on December 12 that iDT had completed its RMB200M first close for its first RMB-denominated fund of RMB500M jointly initiated with Chongqing Technology Development Guidance Fund.

iDT seemed unfamiliar to most people, but Acer Group must be well known to all. Formerly known as Acer VC, iDT serves as the hi-tech venture investment management arm under Acer Group, the third top PC brand in the world. With four funds worth US$500M in total under its management, iDT mainly sources funds from LPs including Government of Singapore Investment Corp (GIC), and transnational investors like ABN AMRO Bank and Nomura Security.