China’s PiYi Investment to fund US companies
PiYi Investment Management, a Chinese private equity manager for high-net worth investors, has teamed up with Wisconsin Economic Development Corporation (WEDC) in the US to invest $100 million in Wisconsin companies.
The Chinese private equity player will target companies that are able to expand into the Chinese market, taking a specific interest in commercialized technologies developed across a broad range of industries including agriculture, energy, clean-tech, infrastructure, IT and bio-technology. Investments will be range from $2-$15 million.
WEDC will select up to 25 companies to make a presentation to PiYi in September during the US-China Investor Week, a 10-day event organized by PiYi Investment and the Council of American States in China.
"We have the ideas, we have the people. We just don't have the capital to fund high growth companies," said Governor Scott Walker. "This partnership with PiYi is intended to help Wisconsin companies get the growth capital they need, and possibly expand into the Chinese market."
The two parties entered into a memorandum of understanding in June.
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