The consumer electronics producer will provide 40% of the capital for a fund partnership with the city of Yancheng sized at up to $1.45bn.
China-based consumer electronics manufacturer Konka Group has formed a RMB10bn ($1.45bn) industry fund in partnership with the municipal government of the Chinese city of Yancheng, DealStreetAsia reported yesterday.
Konka is providing 40% of the capital for the fund, preliminarily dubbed Konka Yancheng Electronic Information Industry Investment Fund, while Yancheng is putting up 59.9%. The other 0.1% will come from an as yet unspecified limited partner.
The fund is planned to debut with an allocation of RMB3bn and will target investments…
