China-based water purification plant operator Beijing Water Business Doctor and private equity firm JD Capital plan on establishing a RMB 2bn ($320m) investment fund, China Money Network reported on Wednesday.
The fund will focus its investments on startups working on environmental protection, specifically targeting businesses developing water supply, production, treatment and optimisation technology, as well as drainage and recycling services.
The first tranche of the fund is expected to attract $80m, of which Beijing Water will provide $24m. JD Capital will raise the remaining cash from external investors.