DT Ventures Nears Close

DT Ventures has raised $122 million in commitments for its second fund, according to a regulatory filing.

The Hong Kong-based firm—formed as a partnership between Lightspeed Venture Partners, Madrone Capital Partners and Pantheon Capital—has set a target of $130 million for DT Ventures China Fund II. The firm (which is also known as DragonTech Ventures and DT Capital Management Co.) launched fund-raising in February 2006.

Promoters of the fund, according to the filing, include co-founder and Managing Partner Roman Shaw; Greg Penner, an investor with Madrone Capital Partners and a director at Baidu.com (Nasdaq: BIDU); Lixin Tian; and Jun Zhao. More details on the fund are available to PE Week subscribers.