The fund will invest in European firms looking to expand in Asia.
By Julie Zhu
Chinese bidders spent a record $105b on assets in 2016.
Agic, founded by veteran dealmaker and former Deutsche Bank executive Henry Cai, invests in advanced European tech companies which have annual revenues between $25-30 million on the lower end up to $100-150 million on the upper end.
The Chinese government has said that it wants the country to transition to a tier-one player in manufacturing from its current status of the world’s largest low-cost production center.