Jiangsu Holly, a China-based exporter of consumer goods, is reportedly setting up a corporate venturing company, Jiangsu Hongrui Growth Venture Capital.
Jiangsu Hongrui will be managed jointly with Jiangsu Holly Futures Brokerage, Jiangsu Hezhong Venture Capital, Jiangsu Kaiyuan Venture Capital, Shanghai Jingaofu Equity Investment and other individuals, according to news provider 163.com.
Jiangsu Holly will invest RMB15m in the joint venture for a 12.4% stake in the venturing firm.