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.
