Contract manufacturer Foxconn and IDG Capital will provide 10% of the capital for the fund, which will invest in transport technology developers.
Taiwan-based manufacturing services provider Foxconn has partnered venture capital group IDG Capital to form a RMB10 ($1.5bn) investment fund that will focus on transport technology, Bloomberg reported today.
Foxconn and IDG will supply 10% of the capital as well as experts who will run the fund. They have been in talks with state-backed funds, financial institutions and private investors for the past few months concerning the remainder, according to an investment document.
The as-yet unnamed fund, which was announced in…
