China’s Infotech Emerging Industry Guidance Fund Raises $872M

Infotech National Emerging Industry Investment Guidance Fund, a state government guidance fund initiated by China's Ministry of Finance and the National Development and Reform Commission to spur innovation in the country, has officially launched after completing a first closing of RMB6 billion (US$872 million) .

In 2015, the Chinese government announced plans to establish a National Emerging Industry Investment Guidance Fund to support innovation and push the nation's industries to a more advanced level technologically. The fund was also tasked with helping support China's underdeveloped service trade and optimize the country's future economic growth.

In July 2016, Infotech, a venture firm founded by several former government officials and capitalized by state-owned China Electronics Corporation, won a bid to become one of the managers for ...

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