IDG, Accel Partners to launch 250 mln usd venture fund in China - Xinhua

The International Data Group (IDG) and Accel Partners, the world's two leading venture capital companies, will jointly launch a 250 mln usd venture fund for China's fast growing information technology (IT) companies, Xinhua news agency reported. The IDG-Accel China growth fund will gather capital from global institutional investors to invest in IT, healthcare, consumer technologies and other IT sectors. The fund will be managed by IDG Technology Venture Investment LLC, a partnership which has been managing IDG's China venture capital funds since 1992. China is the world's largest consumer electronics manufacturing base. Emerging small- and medium-sized companies account for the lion's share of China's exports of electronic information products, which totaled 207.5 bln usd in 2004.

Source: AFX International Focus

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