Shenzhen Capital, Suzhou City Launch $732 Big Data Guidance Fund

Shenzhen Capital Group Co., Ltd. has teamed up with the Suzhou government and other entities to launch a big data-focused government guidance fund with a total fundraising target of RMB5 billion (US$732 million).

Suzhou Hongtu Big Data Venture Capital Fund, which also counts Zhangjiagang Jinmao Investment Development, Chinese property firm San Sheng Hong Ye and a planned new economic development area Suzhou Gaotie New Town, will first raise RMB500 million (US$73 million) and be managed by Shenzhen Capital Group.

The fund will focus on investing in big data trading platforms, software-as-a-service (SaaS) projects, chips, sensors and digital technologies via equity investments to help consolidate the big data industry value chain in the Yangtze River Delta region.

The vehicle will also partner with industry funds and other

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