Israel's Infinity Group has established a CNY200 million technology venture fund with the city of Chengdu in Sichuan.
The fund will focus on projects in clean tech, information technology, agriculture, and technology incubators.
In a separate synchronous deal, Infinity Group signed a deal this week with the Chengdu government that focuses on business communication, investment activities, finance, innovation and private equity. The specific financial terms of that deal have not been disclosed.
"In March of this year, Infinity Group announced the creation of seven joint venture private equity funds throughout China purposed to support the growth of local Chinese businesses through the influx of proven technology and knowhow. The MOU signed today as well as the new JV fund with Chengdu further demonstrate Infinity's clear leadership in the areas of innovation and strategic investment in China. These initiatives are also part of Infinity's plan to expand to the west side of China, which has high future potential. We are delighted to now too be associated with the fine people of Chengdu and look forward to many years of exciting cooperation and joint successes," said Amir Gal-Or, managing partner of the Infinity Group and Infinity I-China.