China Merchants Group Collaborates With Centricus To Fund $15B Investment into Technology Market
In a new partnership with London’s Centricus Asset Management and SPF Group, CMG have begun preparations to invest $15 million into local technology markets in China. The fund itself will also reach global transactions, as China attempts to contest a one hundred-billion-dollar funding plan by SoftBank.
As a private equity and investment agency, Centricus Ltd also provides corporate consulting and handles over $20B in funds as well as raising assets and consulting on SoftBanks future fund. SPF is a smaller firm focused on asset regulation.
15 Billion In Funds
The joint fund is to be split between each of the three partners, with CMG contributing RMB40 billion, while SPF and Centricus will contribute the remaining assets by fundraising from other sources, the report states.
CEO of Softbank has also contemplated releasing a second part of the Vision Fund through partnerships, and more investments predicted to launch as soon as next year.