Financial holding firm Chinatrust Financial is looking to raise $300m for a corporate venturing fund to invest in Taiwanese companies which are operating in mainland China, according to a report from news agency Reuters on Thursday last week.
Daniel Wu, president of Chinatrust, revealed in a media briefing that Chinatrust is currently holding talks to do with fundraising with several state-run conglomerates and financial institutions on the mainland. Wu also stated that Chhinatrust is hoping to establish a leasing firm in Shanghai next year.
The announcement comes days after Taiwan-based competitor Cathay Financial stated its intention to set up its own leasing firm with a partner on the mainland. The prospective fund will follow Chinatrust’s previous corporate venturing unit, Chinatrust Venture Capital, which was formed in 2003.