China tech veterans to launch ‘domestic replacement’ fund amid US sanctions

//China tech veterans to launch ‘domestic replacement’ fund amid US sanctions

China tech veterans to launch ‘domestic replacement’ fund amid US sanctions

Chinese tech veterans, including former executives at Huawei Technologies and SMIC, are planning to launch a “domestic replacement” fund by the end of the year to help create China’s next tech giant and support Chinese companies sanctioned by Washington.Venture capital firm China Europe Capital aims to raise 5 billion yuan (US$731.46 million) for the fund which will invest in start-ups specialising in technologies including semiconductors, 5G and artificial intelligence, said Zhang Jun, the…

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By | 2020-09-09T01:56:33+00:00 September 9th, 2020|Technology|Comments Off on China tech veterans to launch ‘domestic replacement’ fund amid US sanctions