China-focused venture capital firm Shunwei Capital Partners has raised US$1.21 billion for its fourth U.S. dollar-denominated fund. Shunwei’s total assets under management reportedly now stand at US$3.3 billion across four U.S. dollar- and two renminbi-denominated funds. Established in 2011, the firm primarily invests in early- to mid-stage internet, e-commerce and social networking companies.