MPG sets up new angel fund

Swiss investment company Mountain Partners Group (MPG) yesterday announced that it would set up the first institutionalized angel fund in China that would focus on new and fast-growing companies.

The Taishan Angel Fund would be co-established by the Mountain Partners Group and Yang Lei, the managing director of Navi Capital.

The first-round capital raised by this angel fund would be $20 to $30 million, it said yesterday.