Chinese 'unicorn' funds target to gather $47b to fund mainland listings of homegrown tech giants

Chinese 'unicorn' funds target to gather $47b to fund mainland listings of homegrown tech giants

A Xiaomi Corp. Mi 6 smartphone is displayed for a photograph during a news conference in Hong Kong, China, on Monday, June 26, 2017. Photographer: Anthony Kwan/Bloomberg

Asset managers began fundraising for six Chinese “unicorn” funds on Monday, offering retail investors a new investment channel but potentially straining tight market liquidity.

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