CDB Capital to launch $9b fund

13:49, December 21, 2010      

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CDB Capital, a unit of China Development Bank, said Monday that it will launch a 60 billion yuan ($9 billion) fund of funds to support the country's fledgling private equity and venture capital firms.

The fund of funds, the first of its kind set up by a State-owned entity, would include 40 billion yuan ($6 billion) for private equity and 20 billion yuan ($3 billion) for venture capital, they said.

Source: Global Times
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