China-based crowdfunding website CTQuan is targeting $100m for a venture capital fund that will invest in early-stage companies outside its home country, TechCrunch reported on Friday.
CTQuan provides a service similar to the US-based AngelList, supplying both information and access to dynamic investment vehicles that can be used unpublicised by individual corporate investors.
The company has already worked as a broker for China-based businesses wanting to invest internationally in startups, recently brokering the $20m acquisition of visual search technology developer Cortica by an undisclosed Chinese strategic, but will now aim to invest cash itself.
The company has also raised about $4m in financing from undisclosed angel investors, according to TechCrunch, following on from earlier funding that came from the same source.