Suzhou provides input to $732m big data fund

Suzhou city’s government has partnered Shenzhen Capital Group to launch a $732m fund that will invest in sectors such as big data, sensors and cloud technologies.

The city government of Suzhou in China and private equity firm Shenzhen Capital Group have partnered to launch a RMB5bn ($732m) initiative dubbed Suzhou Hongtu Big Data Venture Capital Fund, China Money Network reported yesterday.

The fund, which will raise an initial RMB500m, has also attracted commitments from property firm San Sheng Hong Ye as well as Zhangjiagang Jinmao Investment Development and Suzhou Gaotie New Town, a planned new economic development area.

The fund will be managed by Shenzen Capital. It will identify opportunities in areas including big data trading platforms, software-as-a-service, semiconductors, sensors and digital technologies.

The Suzhou Hongtu Big Data Venture Capital Fund is also hoping to partner industry funds and financial institutions to incubate big data technologies.

The overall aim of the fund is to help consolidate the various companies operating in the big data supply chain around the Yangtze River Delta region, which roughly comprises Shanghai, the southern Jiangsu province and the northern Zhejiang province.

Shenzen Capital Group, founded in 1999, has $30.5bn under management, out of which $3.4bn originates from approximately 80 government-backed funds.

See more from this Government Report: People's Republic of China


Copyright Mawsonia Limited 2010. Please don't cut articles from or the PDF and redistribute by email or post to the web without written permission.

Most read

  1. News round up 23 April 2018

    April 23, 2018

  2. EU plans massive overhaul of funding services

    April 25, 2018

  3. DocuSign seals $629m IPO

    April 27, 2018

  4. Investors fork over $30m to Formlabs

    April 27, 2018

  5. Mubadala backs New York’s Phoenician Capital

    April 27, 2018