Nov. 11, 2008 (China Knowledge) - SB China Venture Capital (SBCVC), the investment arm of Japanese Web and telecoms group Softbank Crop in China, is engaged in raising its first RMB-denominated investment fund with an initial target size of up to RMB 2 billion, the South China Morning Post reported Tuesday, citing unnamed sources as saying.
According to the sources, SBCVC was expected to finish the fund-raising processes before the end of this year or early next year and would team up with an investment arm affiliated to the Shanghai Municipal Government to launch the fund.
The fund, to be managed by SBCVE as its general partner, will primarily focus on the fast-growing high-tech sector, especially in Shanghai's Pudong New Area, sources added.
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