China, UK managers follow SoftBank's lead to form $15b tech fund

Shanghai night sky. Photo: Yiran Ding/unsplash

A China-backed venture plans to raise $15 billion to invest in technology companies globally, borrowing several pages from the playbook of Japan’s SoftBank, whose $100 billion Vision Fund transformed the race to identify and build the next tech giants.

China Merchants Group and peer SPF Group will join forces with London-based investment firm Centricus to launch the 100 billion Chinese yuan ($15 billion) China New Era Technology Fund, to invest or acquire firms across China and around the world.

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