Corporate-backed companies Baidu, Qihoo360 and Ping-An all committed capital to Carmel's fourth fund, which has already invested in five start-ups.
Israel-based venture capital firm Carmel Ventures has closed its fourth fund at $194m after receiving commitments from China-based corporates Baidu, Ping-An, and Qihoo360.
Carmel, part of private equity group Viola, currently has over $800m under management across 35 active companies. It invests between $1m and $10m, and between $100,000 and $1m at seed stage.
The fund will target early-stage companies in sectors including enterprise software, data centre infrastructure, big data, cybersecurity, financial technology, digital media and consumer applications.
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