Baidu Ventures, the corporate venturing arm of China-based internet group Baidu, is set to launch a tech-focused fund sized at $200m or larger in 2018, the company’s managing partner Daisy Cai told Calcalist.
Cai told the tech news site in an interview that the fund will invest in early and mature-stage companies, focusing on China while still considering companies based in Israel, Europe and the US. Baidu’s commitment will be at least as large as the $200m it used to launch Baidu Ventures in September 2016.
Cai said that in terms of Israel-based investments the fund is particularly interested in voice-related technologies in the automotive industry, as well as the artificial intelligence (AI), computer vision, voice identification and cybersecurity sectors.
Recent Baidu Ventures deals include the $27m round closed by augmented reality technology developer 8i in February 2017, and a $10m series A round for fraud detection technology provider Shumei Technology the following month.
Baidu joined forces with insurance firm China Life to launch a $1.05bn private equity fund partnership in August 2017 that will target mid and late-stage investments in internet-focused companies.
The company also contributed to the $194m fourth fund for Carmel Ventures, the Israel-based venture capital firm that recently rebranded to Viola Ventures, in 2014.