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China's new $15bn tech fund emulates SoftBank's Vision Fund

THE story of China Merchants Group began in the 1870s. After its defeats in the Opium wars, the Qing government tried to learn from the West by adopting foreign technology and encouraging new commercial ventures, including China Merchants. The banking-to-shipping conglomerate, based in Hong Kong, has since evolved into one of China's largest state-owned enterprises, with $1.1trn in assets.

Fittingly, its latest endeavour again involves looking westward for new technologies. On July 1st it announced that its investment arm and other China-based investors would put 40bn yuan ($6bn) into a 100bn yuan venture-capital (VC) fund, the China New Era Technology Fund.

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PolicyBazaar raises more than $200 mn in SoftBank-led Series F funding

ETechAces Marketing & Consulting, which operates PolicyBazaar.com, on Monday said it has raised over USD 200 million, led by SoftBank Vision Fund. The Series F round also saw participation from existing investors, including InfoEdge (Naukri.com), a statement said. Founded in 2008, PolicyBazaar's investors include the likes of Temasek, Tiger Global Management, True North, InfoEdge (Naukri.com), Premji Invest, besides investments from other PE funds and family offices. Listen-in to this exclusive conversation with PolicyBazaar co-founder Yashish Dahiya post-announcement.

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