A Capital launches $1.4 billion tech fund

Beijing-based Euro-Asia private equity fund A Capital has launched a technology fund targeting 1 billion euros ($1.4 billion). It is designed to help European companies develop businesses with China's large market, its chairman told China Daily on Tuesday.

A Capital Technology Fund will invest in innovative European enterprises in environmental and energy, digital, machine-to-machine, healthcare, mobility, logistics and high-end manufacturing sectors. It will use mergers and acquisitions as a way forward.

Machine-to-machine refers to technology that allows both wireless and wired systems to communicate with other devices of the same type.