China's NDRC backs Gobi’s second RMB fund
China’s National Development Reform Commission (NDRC) has invested RMB50 million ($7.9 million) in Gobi Partners' second renminbi-denominated fund. The latest injection takes the Yingzhi RMB Fund to RMB350 million in size.
The NDRC has been searching opportunities to invest in government-backed venture capital funds that target high-tech sectors. Local media cited Michael Zhu, a partner at the Shanghai-based Gobi as saying...
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