Hon Hai to set up a joint fund with Chinese firmBy Angelica Oung / Staff reporterHon Hai Precision Industry Co (鴻海精密) yesterday said that it has signed a strategic partnership contract with China Insurance Investment Co (中保投資) to create a venture capital fund valued at 10 billion yuan (US$1.49 billion), targeting investments in emerging technology. The fund’s size would gradually grow to 20 billion yuan, Hon Hai said in a statement. Hon Hai Precision Industry Co chairman Young Liu takes part in a news conference on the company’s “Technology Day” on Oct. 16 to introduce its electric-vehicle platform. The fund would be a “mutually beneficial collaboration that combines quality industry with long-term capital,” Hon Hai chairman Young Liu (劉揚偉) said in the statement. The strategic partnership with China Insurance Investment and its cooperation in high-tech investments would create a win-win situation for both sides, Hon Hai said.

Source: Taipei Times October 27, 2020 15:56 UTC