Ping An Insurance Group Co of China Ltd, the country's largest insurer by market value, is launching its first overseas fund to primarily invest in financial and healthcare technology globally, as China strives to transition its economy to one led by innovation and technology.
The Ping An Global Voyager Fund will initially raise US$1 billion and be managed from Hong Kong. The new vehicle will be led by Jonathan Larsen, a former Citigroup executive appointed as Ping An's chief innovation officer today.
The Shenzhen-based Ping An Insurance plans to fully invest the Global Voyager Fund in the next three to four years with a focus on early-stage start-ups, according to a disclosure filing today.
The vehicle will be responsible for bringing new technologies and business models to Ping An’s businesses in China and internationally, lever...
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