www.design-reuse-embedded.com

China to invest heavily into European and US tech startups, reports Bloomberg


By Julien Happich eeNewseurope, May. 15, 2017 – With offices in Silicon Valley, London, Shenzhen, and Beijing, China-backed Silk Ventures announced it aims to invest up to $500 million into U.S. and European technology startups, with a particular focus on fintech, artificial intelligence, medical technologies and startups specializing in related sciences.

Of the $500 million raised by Silk Ventures, half comes from SASAC, the State-owned Assets Supervision and Administration Commission of the State Council, which supervises and regulates state-owned enterprises in China, reports Bloomberg.

The remaining half of Silk's fund has been raised from a group of investors the company declined to identify. It said in a statement that it will announce its first investments in July. The company launched an accelerator based in London's Canary Wharf in 2015, which provides support to China-focused startups.

Click here to read more ...

 Back

Partner with us

Visit our new Partnership Portal for more information.

Submit your material

Submit hot news, product or article.

List your Products

Suppliers, list and add your products for free.

© 2016 Design And Reuse

All Rights Reserved.

No portion of this site may be copied, retransmitted,
reposted, duplicated or otherwise used without the
express written permission of Design And Reuse.