ZTE Venture Capital Fund nears RMB1bn target fundraising.
ZTE, the second-largest telecom equipment provider in China, has raised RMB851m ($128m) for its ZTE Venture Capital Fund, according to local news provider China Knowledge.
In a statement filed with the Shenzhen Stock Exchange quoted by China Knowledge, the company said the corporate venturing fund would remain open as it aimed to raise about RMB1bn.
Through ZTE Capital Management, the Hong Kong-listed company has committed RMB300m in the ZTE Venture Capital Fund.
