China-based ship building company Yangzijiang Shipbuilding has become a cornerstone investor in a second local venture capital firm.
Yangzijiang invested RMB60m ($8.8m) in Jiangsu Huagong Venture Capital Company, which is raising RMB300m.
Last July, Yangzijiang took a similar 20% stake in Everbright Venture Capital Jiangyin Company’s RMB500m fund.
The ship builder is trying to build an asset management division, and last week bought majority control of microfinance lender Jiangsu Runyuan Rural Microfinance Company for RMB153m.