$100m China-Ireland fund established

//$100m China-Ireland fund established

$100m China-Ireland fund established

Friday 17 January 2014 07.54

The fund will invest in Irish start-ups seeking to expand into China, and Chinese companies looking to set-up here The fund will invest in Irish start-ups seeking to expand into China, and Chinese companies looking to set-up here

The National Pension Reserve Fund and China Investment Corporation are to put $ 100 million into a new fund.

The China Ireland Technology Growth Capital Fund will invest in fast-growing Irish start-up technology companies trying to expand into China. 

It will also invest in their Chinese equivalents looking to set-up in Ireland with view to expanding into Europe.

The fund will be co-managed by WestSummit Capital Management and Atlantic Bridge.

WestSummit Capital is a China-based technology investment firm with offices in Beijing, Silicon Valley and Hong Kong.

Atlantic Bridge is a technology growth capital investor which is based in Dublin and has offices in London and Silicon Valley.

China Investment Corporation is a sovereign wealth fund that invests some of the country’s foreign exchange reserves overseas. As of the end of 2013, it had around $ 580 billion in assets under management.

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By | 2014-01-17T11:54:19+00:00 January 17th, 2014|Business|0 Comments