Sinovation closes $362m RMB fund, establishes GBA base
Sinovation Ventures has raised RMB2.5 billion ($362 million) for a fund that will focus on artificial intelligence (AI), big data and related areas. The final close was announced at the unveiling of the firm’s Greater Bay Area (GBA) headquarters in Guangzhou.
The fund launched last year as a cooperative effort with the Guangzhou government. In addition to the fund, Sinovation has established an AI research institute and a branch of its Chuangxin Qizhi business...
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