$15 billion More for Chinese Startups
China is very exciting on the way it looks into the future. The country is building a tech fund war chest of $15 billion. Yes, the State-owned China Merchants Group has teamed up with London investment firm Centricus to launch the China New Era Technology Fund. It will focus mainly on Chinese tech companies but could do global deals.
A China-backed venture plans to raise $15 billion to invest in technology companies globally, borrowing several pages from the playbook of Japan’s Softbank, whose $100 billion Vision Fund transformed the race to identify and build the next tech giants.
China Merchants Group and peer SPF Group will join forces with London-based investment firm Centricus to launch the 100 billion Chinese yuan ($15 billion) China New Era Technology Fund, to invest or acquire firms across China and around the world.
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Will you are building that startup in China? I get the feeling.