Changcheng Investment Partners is an independent firm sponsored by Baidu and managed by its ex-CFO that will target internet and artificial intelligence.
China-based internet group Baidu has formed a $500m growth-stage fund called Changcheng Investment Partners to back internet and artificial intelligence (AI) technology developers, The Paper reported yesterday.
The $500m figure represents the fund’s first phase, according to The Paper, though it did not reveal any plans for a final close, nor whether Baidu is providing the entirety of the capital. Li Xinzhe, Baidu’s former chief financial officer, will run the fund as chief executive.
Changcheng will however operate as an…
