Tech sector gets boost from fund

Chinese, UK investment firms to jointly raise $15b in support of global startups

Two Chinese investment companies and a British asset management firm agreed to establish a 100 billion yuan ($15 billion) fund that will invest in technology companies around the world, with a focus on China.

Reuters reported that London-based Centricus Asset Management Ltd, Hong Kong-headquartered conglomerate China Merchants Group and Beijing-based fund manager SPF Group have come together to form the China New Era Technology Fund.