Bertelsmann Investments to Plough $700m Into China Startups: FT

Gemany venture capital fund Bertelsmann Investments plans to allocate $700 million into Chinese startups over the next three to five years, its Chief Executive Carsten Coesfeld told the Financial Times.

The move comes amid growing tensions between US and China. Part of the family-run media empire Bertelsmann SE & Co. KGaA, the venture capital fund is targeting China-based tech firms and also startups founded by Chinese abroad, the FT adds.

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