China-focused venture capital firm Morningside Venture Capital has reached a final close for its first RMB fund with CNY1 billion (approximately US$145 million) in capital commitments. Investors in the fund include Gopher Asset Management, CICC Qiyuan National New Industry Venture Capital Guidance Fund, Suzhou Guochuang Kaiyuan Fund, Huatai Merchants Capital Market Investment FoF, China Merchants Venture, Shengjing FoF and CreditEase Wealth Management. The fund will focus on early-stage investments in technology, media and telecom (TMT) companies.