The security system developer has joined forces with investors including controlling shareholder China Electronic Technology to form an investment fund to target areas such as IoT and robotics.
China-based security camera supplier Hangzhou Hikvision Digital Technology intends to launch a RMB1bn ($141m) investment vehicle in partnership with multiple other investors.
CETC Fund Management, an affiliate of state-owned telecommunications equipment producer China Electronic Technology Group Corporation (CETC), is the general partner for the fund, which has tentatively been named Hikvision Smart Industry Investment Fund.
The vehicle will be equipped with RMB600m from Hikvision itself, RMB200m from venture capital firm Hangzhou Gaoxin Venture Capital and RMB100m from CETC’s CetHik subsidiary,…
