Investcorp, China Everbright to invest in intelligent infrastructure
Firms will combine investment teams to focus on artificial intelligence, B2B software solutions, and other technologies
Bahrain’s Investcorp and Hong Kong-headquartered China Everbright Limited have inked a deal to combine their investment teams and expand their partnership into investing in Chinese technology and intelligent infrastructure, with a key focus on artificial intelligence, business-to-business (B2B) software solutions, internet services, and smart retail, among others.
The combined team and investment committee will jointly manage the China Everbright New Economy Fund I, and will explore the opportunity to establish a successor private equity fund, jointly managed by the two parties.
Commenting on the partnership, co-chief executive officer of Investcorp, Hazem Ben-Gacem, said: “This is our most significant step so far towards expanding our footprint into the fastest growing economy in the world, China, and is in line with our strategy of growing AUM through global expansion.”
Speaking about the potential of intelligent infrastructure in China, executive director and chief executive officer of China Everbright Limited, Mr. Zhao Wei, said: “Standing upon the intelligent tide with the booming of intelligent infrastructures such as 5G, IoT and AI, Everbright has already proved itself to be a pioneer in the Intelligent Age. This partnership with our valued partners, Investcorp, is an important step in attracting foreign investment and bringing global perspective into China’s booming technology sector.”