Infinity Group invests in China COFCO project
Infinity Group, the Israel-based private equity firm created by China Development Bank and Israeli conglomerate IDB Group, plans to invest up to RMB10 billion ($1.62 billion) in the Beijing Eco-Valley project created by food industry giant COFCO Group.
Infinity and its partner Israeli LR Group have committed RMB 1 billion in the project so far. They will also provide a professional team for Eco-Valley's agricultural operation. COFCO plans to use Infinity's agri-tech and know-how to improve food quality, according to a statement.
The project includes high-end agricultural production, high-tech demonstrations, an ecological landscape and agriculture tourism, as well resort hotels and commercial and residential properties.
"We are extremely proud that the first smart agricultural city, of hopefully many to come, is built on the foundation of a strong partnership with industry leader COFCO. 20% ownership in the Eco-Valley project is an attractive investment," said Amir Gal-Or, founder and managing partner of Infinity Group. "Since 2003, Infinity Group has trail-blazed the area of Chinese-Israeli technology and innovation cooperation."
Infinity currently manages RMB 10 billion in 100 portfolio companies through 17 RMB funds.
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