China-based laser equipment manufacturer Han’s Laser Technology Industry Group has formed a $160m investment fund with Chinese state-owned private equity fund Guosen H&S Investment, China Money Network reported today.
The joint venture will focus on the robotics and artificial intelligence sectors. Han’s is investing RMB 200m ($32m), while Guosen H&S, the private equity arm of government-owned financial services firm Guosen Securities, will raise the remaining capital from third-party investors.
Han’s and Guosen have formed an asset management company to run the fund, in which Han’s will take a 49% stake and Guosen 51%.
Han’s expects the fund to increase its competitiveness in sectors such as visual identity, automation systems integration and linear motors. The company is listed on the Shenzhen stock exchange and valued at $2.8bn as of the time of writing.