Infinity links with Harbin government to invest in Israeli tech companies

According to Infinity, most companies will receive $1 million, and both the private equity investor and Harbin are reviewing potential targets. They will focus on assets dealing in medical device development, pharma and healthcare services, information technology, agritech, materials, and water and clean technology and energy. Harbin's Mayor Lin Duo said the local government will support the initiative by providing financing, infrastructure and services.

The move strengthens Infinity's ties with Harbin, as it invested RMB120 million ($18 million) in Harbin No.1 Tools Manufacturing in November of last year.

The agreement comes two months after Infinity announced the establishment of a Chongqing arm in cooperation with the government of Chongqing's Banan district. Infinity has already launched funds - in renminbi and US dollars - in cities including Beijing, Suzhou, Harbin, Shijiazhuang, Changzhou, Ningbo and Tianjin. The Chongqing vehicle marks its 11th city-level fund formation. The firm noted at the time that there would be two Chongqing funds: A renminbi vehicle with a target of RMB6 billion and a US-dollar vehicle worth $1 billion.

In May of this year, Infinity was also approved by the Chongqing municipal government for the Qualified Foreign Limited Partner (QFLP) program, enabling the firm to convert foreign currency into yuan for onshore investments.

Infinity Group deals in cross-border China, renminbi and dollar private equity platforms and technology M&A. It aims to support Chinese companies with ambitions to be domestic and international leaders, and also helps companies outside China boost their presence in the local market. Infinity manages 13 funds, of which two are outside China, and claims a portfolio of 45 companies. It has successfully exited 22 companies.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• Technology
• Infinity Equity
• China
• Joint Venture
• TMT
• Fund formation