Wednesday, 12 October 2016

China sets up $3 bn internet investment fund

China's Baidu Inc said on Wednesday it has established a 20 billion yuan ($3 billion) investment fund, Baidu Capital, focusing on mid- and late-stage deals in the internet sector.

Investments can be in both Chinese yuan and US dollars, with investment projects ranging from $50 million to $100 million, China's dominant internet search company said on its official WeChat mobile messaging account.

Source: TheHindu

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