Kuang-Chi Group, a Shenzhen, China-based technology conglomerate, has launched its Global Community of Innovation (GCI) Fund II and the opening of its Israel-based International Innovation Headquarters.
As the first Chinese fund of its kind, GCI Fund is targeting companies that seek collaboration with local Chinese firms for entry into their domestic markets.
GCI Fund II will invest US$250m in global technology companies active in the areas of: smart city/smart home, IoT, artificial intelligence, VR/AR and robotic, and be supported by a new China-based incubator, established by Kuang-Chi to bring its portfolio companies to the Chinese market.
Established in 2016, GCI Fund I now has stakes in several Israeli companies, including:
– eyeSight, a computer vision pioneer;
– Beyond Verbal, a voice analytics developer;
– AgentVi, a video intelligence and analytics provider;
– Zwipe, a Norwegian biometric authorization innovator; and
– SkyX, a Canadian aviation company.
Within six months of its investment, Kuang-Chi and eyeSight jointly built a local team in China while Beyond Verbal signed its first cooperation agreement in China, with the Second Affiliated Hospital Zhejiang University School of Medicine in Hangzhou in December 2016.
Earlier, Kuang-Chi established a presence in the aviation sector with investments in Canada-based company SolarShip, and Australia’s Martin Jetpack. In the telecommunications field, the company made a significant investment in Southeast Asia telecommunications provider Hyalroute.
Founded in 2010, Kuang-Chi has created a Global Community of Innovation of more than 2,600 employees in 18 countries and regions which is dedicated to innovation and principal investment in technology sectors including communications, metamaterials, and space technology.
Its subsidiary companies are:
– KuangChi Science Limited (00439.HK), which focuses on the development of future technology;
– Shenzhen-traded Zhejiang Longsheng (002625.SZ);
– Martin Aircraft Company (ASX: MJP); as well as
– research institutes and private companies.