Investments will focus on mid- and late-stage deals in the internet sector, in CNY yuan, US dollars and other currencies, with individual funding amounts ranging from USD 50 million to USd 100 million, reuters.com reports.
Tencent and Alibaba fared better with mobile users in China, the worlds biggest smartphone market. A post-smartphone era of artificial intelligence, virtual reality and augmented reality could shake up the technology sector again.
Baidu announced in September 2016 the creation of Baidu Venture, a USD 200 million fund to invest in those three fields.
Baidu Capital` money will come from large insurance funds, securities companies and others, and investment institutions with a state background have also expressed interest in participating.
The fund will have two or three managing partners, drawn from the investment industry, with a background in the internet sector and private equity.
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