China-based security camera supplier Hangzhou Hikvision Digital Technology intends to launch a RMB1bn ($141m) investment vehicle in partnership with multiple other investors.
CETC Fund Management, an affiliate of state-owned telecommunications equipment producer China Electronic Technology Group Corporation (CETC), is the general partner for the fund, which has tentatively been named Hikvision Smart Industry Investment Fund.
The vehicle will be equipped with RMB600m from Hikvision itself, RMB200m from venture capital firm Hangzhou Gaoxin Venture Capital and RMB100m from CETC’s CetHik subsidiary, which is Hikvision’s controlling shareholder. CETC Fund Management is providing RMB10,000 according to the announcement.
Founded in 2001, Hikvision provides video surveillance products and services. The Chinese government owns a 42% stake in the company, which has collaborated on state-instituted projects in cities such as Hangzhou, Shanghai and Urumqi.
Hikvision Smart Industry Investment Fund will identify developers of technologies relevant to Hikvision’s ecosystem, such as integrated circuits, robotics, automation and internet-of-things (IoT) products.
CETC subsidiary CETC Investment Holdings owns a 40% share of CETC Fund Management, making it the entity’s largest shareholder.
