The oil, gas and chemicals provider has formed a vehicle that will invest in new energy and materials, intelligent manufacturing and AI.
China-based oil, gas and chemicals supplier Sinopec has formed an investment firm called Sinopec Capital that will be equipped with RMB10bn ($1.48bn) of capital.
Sinopec Capital will invest in emerging areas such as new energy, advanced materials, artificial intelligence and smart manufacturing and supply chain technologies.
Although Sinopec has not stated directly that the vehicle will invest in startups, its activities will cover equity investments and management as well as project investments and asset management.
The fund will get 49%…
