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Interprovincial Venture Capital Co. Set Up In Shanghai
A venture capital company, jointly funded by three companies from Shanghai and Shenzhen, was set up Wednesday in Shanghai.
With an total investment of 50 million yuan (US$6 million), Shanghai Venture Capital Co. Ltd. is engaged in hi-tech projects and investment, information consultation and diversified financial services.
Shenzhen Venture Capital Co. Ltd., one of the investors, is one of the largest venture capital companies in China. The company has now controlled shares involving approximately three billion yuan in capital. It invested in 14 companies that have been listed on the second-board stock market.
The other two investors are two texture factories in Shanghai, which export to over 70 countries and regions, including the United States, Japan, Australia and New Zealand.
The new company signed six investment contracts that mainly involve electronic information with local hi-tech companies in Shanghai.
The company will carry out investment in projects in the fields of information technology, biological medicine and new materials, Xie Yuzhong, president of the company, said.
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