Israeli venture firm launches six new yuan funds

The six funds will target the growing technology sectors of seven cities across China, with fund sizes ranging from 200m yuan ($29.2m) to a target of 500m yuan ($73.2m).

Infinity-I is a subsidiary of the Infinity Group, which manages $700m through nine funds, seven of which are in China. The new funds are the third step in Infinity’s ten-year plan for the region, following its 2004 establishment of the first yuan fund in China and its 2008 cross-board fund. Step four is expected to be announced later this year.

“Since 2003, Infinity has been actively creating mutually beneficial relationships which combine the ingenuity and expertise of advanced and proven technology companies with the rapidly growing market in China and the business acumen of the Chinese people,” said Infinity I-China managing director Amir Gal-Or.

Infinity splits its management team between Israel and China. A 2004 fund launched in partnership with the China Singapore Suzhou Industrial Park Ventures, the Infinity-CSVC fund was the first limited partnership offshore fund fully endorsed by the Chinese and Israeli governments.

“The quality of our deal flow alongside Infinity’s ability to add value has increased dramatically since our teams have spread out across the country,” added Gal-Or.

Infinity I-China sector focuses include medical devices, pharma and healthcare services, IT, agriculture, materials, and water and clean technology. It recently made a three times return on IT services provider Digital China less than a year after investing.

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