Baidu, China Life preparing USD 1 bln tech investment fund

Friday 25 August 2017 | 09:31 CET | News
China Life Insurance Group and internet service provider Baidu are setting up a CNY 7 billion (USD 1 billion) private equity fund for internet and other technology investments, reports Reuters, citing China Life's listed arm. The Baidu Fund Partnership will be capitalised by China Life through a special partnership, which will contribute up to CNY 5.6 billion, with Baidu itself contributing as much as CNY 1.4 billion. The fund will focus on middle to later stage investment, including unlisted companies with "significant association" with China, in the internet sector, including mobile

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Categories: Internet
Companies: Baidu
Countries: China
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