The internet company's CEO has revealed plans to raise up to $500m for a fund that will invest in online financial technology companies.
China-based internet company Sina announced a corporate venturing fund on Wednesday that plans to raise $500m to invest in online financial technology developers.
Charles Chao, Sina’s chief executive, revealed the fund in the firm’s Q2 earnings call, confirming that its board of directors has approved its formation.
Sina operates an internet portal as well as the considerably popular microblogging platform Sina Weibo and cloud services platform Sina App Engine, and Chao said it aims to use those services to attract…
