By Evan Vitale
What’s new in the world of venture capital?
According to Reuters, China has launched a $30 billion state-controlled venture capital fund which will be used to invest in innovative technology and industrial upgrading projects.
China has been encouraging its industrial firms to rise up the value chain through technical innovation and tougher efficiency standards, with the aim of creating globally competitive conglomerates. It has vowed to be more selective in the way it disburses funds, and aims to cut off credit for non-competitive firms that are unable to upgrade.
The fund is financed by China Reform Holdings Corp Ltd, China Postal Savings Bank, China Construction Bank Corp and Shenzhen Investment Holdings, the notice posted on State-owned Assets Supervision and Administration Commission’s (SASAC) official Weibo platform said.
You can read the story here: http://reut.rs/2b1vyiJ.
The Globe and Mail has a nice article you might want to check out on “Insider Tips from OMERS on getting venture capital.”
The interview with Quasim Mohammad, a Toronto-based venture capitalist and member of the investment team at OMERS Ventures, is here: http://bit.ly/2b2fVLa.
The New York Business Journal has a nice piece on ReviMedia Group and how they have raked in $12.5 million in venture capital.
ReviMedia Group is considered to be one of the fast-growing, privately-held companies in New York.
Check it out here: http://bit.ly/2b1uYHz.