The investment focus is aligned with the current Chinese government strategy, which is meant to transform China from a labor intensive, mass manufacturing focused nation, to an innovation and service focused economy.
The China Development Bank and IDB Group, Tel-Aviv, Israel have invested $50 million in the Infinity I-China Fund. The I-China Fund is set to be managed by Infinity-CSVC Partners Ltd., a general partner with a joint management team both from Infinity and Suzhou Ventures Group. The fund has served as an initial bridge between Israel and China and as such, has created growing enthusiasm. In May 2007 we had a first closing of $155 million. With the new investment we now have closed $270 million with a new target of $350 million by July 2008. $50 million of the $270 million is from an on-shore RMB, led by Suzhou Ventures Group," said Infinity Equity managing partner Amir Gal-Or. The Infinity I-China Fund, invests in late-stage Israeli technology companies with parallel investments in Chinese businesses, that license Israeli technologies to develop and market them in China.