Chinese State-Backed Companies To Launch $4B Innovation And Tech Fund In Beijing

Two companies under state-owned firm Zhongguancun Development Group (ZGC Group) are to jointly set up a fund of funds (FOF) with more than RMB30 billion (US$4.24 billion) in initial capital to back tech companies, announced by ZGC Group on Thursday in the 2019 ZGC Forum. The new fund, Zhongguancun innovation fund, is launched by Zhongguancun […]

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