The diversified Chinese conglomerate will extend its corporate venturing activities to the US with a $100m Silicon Valley-based VC firm.
China-based conglomerate Fosun International has launched a $100m specialist corporate venturing unit situated in Silicon Valley, according to the Wall Street Journal, which cited comments made by Fosun Chairman Guo Guangchang.
Fosun has been active in corporate venturing this year, investing in gaming company Joyme.com, education software provider Uniquedu and social media marketing company Kongming through its Fosun Venture Capital subsidiary.
However, the new unit, a venture capital firm called Kinzon Capital in which Fosun is the…
