IT fund set up to target emerging technology
Print Edition
AN information technology fund targeting Internet of Things, autonomous vehicles, cloud computing, Big Data and artificial intelligence was set up yesterday.
The HOPU-ARM Innovation Fund, whose investors include chip designer ARM and China’s sovereign wealth fund, will help China develop chips, which are regarded as the “heart” of smart devices.
ARM offers chips for almost all smartphones in China and globally. It aims to expand business to IOT and AI sectors.
The fund will invest in emerging technology companies and startups in China and globally to accelerate the development and adoption of emerging applications in IOT, autonomous vehicles, cloud computing, Big Data and AI.
Combining the expertise and insight of the finance and technology sectors, the fund will help the most promising technology companies quicken their time-to-market process and boost their global competitiveness.
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