Peakview Capital is the investment advisory arm of China-based management consulting and investment advisory firm Shengjing Group, plans to invest more than $1.5bn in 2016, according to the Wall Street Journal.
Peakview was formed in 2014 and operates as a fund-of-funds subsidiary of Shengjing. It has committed capital to three US-based venture capital firms – Menlo Ventures, Institutional Venture Partners and 500 Startups – as well as firms in China and Israel.
However, the unit has now opened an office in Silicon Valley and is in the process of hiring a US-based investment team. Much of the $1.5bn will be invested in the US, Peakview managing partner Erik Lassila told the WSJ.
The decision is part of a wider trend that is seeing large Chinese investors increasingly committing capital internationally to avoid being caught out by turbulence in their domestic stock markets.