Redpoint China Ventures, the China-focused arm of global venture capital fund manager Redpoint Ventures, has reached a final close for its first RMB-denominated venture capital fund with CNY700 million (approximately US$110 million) in capital commitments. Investors in the fund include China-based institutional investors. The fund will invest in early-stage companies in the technology, media and telecommunications sector, with a focus on consumer internet and enterprise software.