Baidu Forms RMB 20 Bln Internet Project Investment Fund
Cnstock, 10/12/16
Chinese internet company Baidu (Nasdaq: BIDU) has announced the formation of a RMB 20 bln fund called Baidu Capital, which will primarily make mid- to late-stage investments in a broad range of internet projects. Baidu Capital will not differentiate between USD- and RMB-denominated investments and will target an average of USD 50 mln to USD 100 mln per project, with the possibility of larger investments for important players. Baidu CEO Robin Li will serve as chairman and head of the investment committee at Baidu Capital.
Baidu Capital's funding comes from several large insurance funds, securities companies, and funds of funds from professional institutions. A number of institutional investors with ties to the government are also interested in participating and are currently in talks with Baidu, revealed a Baidu spokesperson.
Keywords: Robin Li Internet funding Baidu BIDU M&A Baidu Capital
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