Bank of China plans to set up $4.7b FOF to invest in tech innovations


Source: dealstreetasia.com dealstreetasia.com

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Bank of China, a state-owned commercial bank in China, plans to set up a 30-billion-yuan ($4.7 billion) fund of funds (FOF) to invest in technological innovations in the country. BOC Capital, a wholly-owned subsidiary of investment bank and securities brokerage firm BOC International China – a part of Bank of China – plans to invest 700 million yuan ($110.4 million) in the new fund, BOC International China disclosed in a filing with the Shanghai stock exchange earlier this week. BOCGI Capital, also a member of Bank of China, will serve as the general partner of the FOF, whose tentative Chinese...