Partners at Chinese venture firm Fortune Venture Capital Co. Ltd. received a handsome Christmas gift last month. The move to better incentivize valued talent at the state-backed venture firm, however, raises questions on how such state-affiliated assets are valued.
The firm's parent, state-owned Hunan TV & Broadcast Intermediary Co., Ltd., said in a disclosure filing (in Chinese) last month that the Hunan provincial government had approved a deal to allow partners at Fortune Capital to acquire a 20% stake in one of the firm's subsidiaries, Shenzhen Fortune Caizhi Venture Investment & Management Co., Ltd., for RMB311 million (US$45 million).
The partners, including Fortune co-founders Xiao Bing and Liu Zhou, will acqui...
This news article comes via , who is the copyright owner of this information and news. FintekAsia.com has licensed the rights to this article and any republication or re-distribution in whole or in part of this content is strictly prohibited without the express consent of China Money Network