Kuang-Chi Group has launched its second Global Community of Innovation (GCI) fund, which will invest up to USD250 million in companies developing technology in industries including robotics, internet-of-things, telecommunications, and digital health.
The fund has a focus on global start-ups and follows a previous investment of USD50 million in similar fields.
Through investments of the first GCI fund, Kuang-Chi has taken stakes in companies with a focus on innovative and disruptive technologies, including video intelligence provider Agent Video Intelligence (Agent Vi).
Itsik Kattan, CEO of AgentVi, says: "After Kuang-Chi became a strategic investor in Agent Vi, our cooperation has made rapid headway. Among other initiatives, we will open an Innovation Center in early 2017 in Tel Aviv, Israel, which will look to identify and integrate Smart City technologies being developed in Israel with our and Kuang-Chi's offering."
In addition to Agent Vi, the GCI fund has invested in gesture control leader eyeSight; emotions analytics pioneer Beyond Verbal; biometric authentication provider, Zwipe; and UAV surveillance company SkyX.
Kuang-Chi has also established a number of JVs to strengthen its portfolio companies' market positions, including one JV recently announced with Zwipe in Shenzhen.
Ruopeng Liu, chairman of Kuang-Chi, says: "The first USD50 million tranche of the USD300 million GCI fund has been invested successfully. We look to build on our momentum by expanding our investment focus and, for the first time, offering our partners the opportunity to participate in our investments."
Dorian Barak, Kuang-Chi's global investment director, says: "Chinese companies are becoming important investors in Israel, with market leaders such as Alibaba, Baidu, Kuang-Chi, and Tencent joining Intel, Google, Apple and others as strategic investors and acquirers. At the same time, more and more Israeli start-ups are focusing on bringing their products and capabilities into Chinese market.
"I am delighted by the progress Kuang-Chi has made in Israel and look forward to seeing GCI expand its activity with additional investment partners. Kuang-Chi's technological strength, geographic reach and market position offer significant benefits to portfolio companies seeking to operate in Asia.”
