Chinese investors are on the hunt for the UK’s next unicorns — start-ups that reach a $1bn valuation — with the launch of a £500m, London-based venture capital fund to invest in European technology companies.
Launched by Cocoon Networks, a Chinese investment firm backed by private equity companies China Equity Group and Hanxin Capital, the UK and China High Tech Fund will seek out businesses that could be successfully imported back home.
It will concentrate on start-ups in the fintech and biotech sectors, as well as those focusing on creative industries.
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