Israeli-Chinese cross-border private equity firm Infinity Group and Chinese IT firm Neusoft Corporation agreed to form a $250-million fund to invest in Israeli medical technology firms over the next three years.
The announcement was made at the start of the China-Israel Investment Summit, held at the DLD Tel Aviv Innovation Conference.
Infinity Group’s founder Amir Gal-Or said that Neusoft is considered one of the largest IT corporations in China with about 50 per cent share of the health market in China specializing in developing software for the industrial sector.
“The establishment of this fund is another step in deepening the economic ties between Israel and China,” said Amir.
In August, PICC Property and Casualty Co Ltd has led a second financing round worth $64 million in Neusoft Xikang Healthcare Technology, a cloud-based medical and healthcare management provider under Neusoft Corporation’s umbrella. Alps Electric and other strategic investors in commercial insurance and wearable health device industries also joined this round.