The state-owned China Aerospace Science and Industry Corporation (Casic) has reportedly started a RMB1bn ($159m) corporate venturing fund to bolster the civil-military integration capabilities of companies based in the country’s capital, Beijing.
News provider Jane’s said China’s Ministry of Industry and Information Technology (MIIT) said in a statement on 15 January that the fund was launched at the beginning of the year through a collaboration effort between Casic, the Beijing Municipal Science & Technology Commission, and subsidiaries of the Shenzhen-based Guoxin Securities.
MIIT said the fund would promote private companies’ involvement in a range of dual-technology fields, including networked-enabled capabilities, cyber security and communications.
MIIT added that funding generated through the fund would be used to “promote scientific and technological achievements and civil-military integration”, as well as the “rapid growth” of small and medium-sized enterprises in Beijing.