JD Finance, the financial services arm of China-based e-commerce firm JD.com, has formally launched a strategic venture capital fund called Qianshu Capital, China Money Network reported today.
The unit will take minority stakes in domestic startups looking to meet consumer demand, and will invest at seed and series A stage. JD has not revealed the size of the fund or how much it will typically provide at a time.
Qianshu Capital is already active and its portfolio companies so far include connected radio producer AirSmart, smart running shoe developer Runmi Technology and towel designer Zuishenghuo.
Those companies make up part of a portfolio that spans lifestyle technology, entertainment and media, and personal health, fashion and cosmetic products.
Qianshu utilises a big data model to analyse potential funding recipients based both on their business plans and data already generated by JD Finance’s crowdfunding efforts. It will also offer portfolio companies training, consulting and financial services.
JD Finance, which was launched by JD.com in 2013, was reported in March this year to be raising external funding in a round that would value it at about $7.3bn.