China-focused venture capital firm AlphaX Partners has reached a final close for its maiden fund, a U.S. dollar- and renminbi-denominated dual-currency vehicle, with CNY2 billion (approximately US$313 million) in total commitments. Investors in the fund include institutions from Europe and the United States; China-based strategic investors Focus Media and Qihoo 360 Technology; China-based investment firms CreditEase and Zero2IPO Group; and government guidance funds. The fund will invest in companies with a focus on emerging technologies, education, consumer upgrades and the application of the internet to traditional industries.