'China New Era Technology Fund' plans to invest in global technology companies, including investment and acquisition of companies in China and other parts of the world.
The fund was set up as global investors competed to gather more funds to compete with Softbank's 'Vision Fund'. Last week it was reported that Sequoia Capital was completed as part of the $8 billion Global Fund. The first round of $6 billion in financing.
Dalinc Ariburnu, co-founder of Centricus, said: 'The technological revolution has grown faster than expected, and at the same time competition in technology investment has become more intense. Today, the size of the fund and its entry into major markets Ability will become a disruptor of the rules of the game. '
Neil Shen, founder of Sequoia Capital China Fund, said before: 'Business is changing, investment scale is changing. Now, to become a leading investor in a company, investing 100 million US dollars is not enough. To build a multi-billion dollar business, you need to invest $400 million or $500 million.'
According to the agreement, China Merchants Group will invest up to 40% of the total, and Centricus and SPF Group will set up a joint venture company 'Centricus SPF', which is mainly responsible for attracting international investors. In addition, CM Capital and Centricus SPF will also set up a fund management. The company invites universities and other investors, including leading technology companies, to join the fund.