Kuang-Chi, a Shenzhen-based technology conglomerate, has announced its Kuang-Chi GCI Fund & Incubator combining investment in early to mid-stage Israeli and global companies with incubation by the Chinese tech giant. The newly established international innovation fund – based in Israel — has an initial mandate of $50 million which is planned to grow to $300 million within the next three years.
“Israel has unparalleled capabilities to offer the world. You share with Kuang-Chi a special mindset and vision. We intend to invest in the best local companies in the fields of biometrics, communications, robotics, and AR, and to take them to the next level commercially and technologically,” said Dr. Ruopeng Liu, the group’s chairman.
The Kuang-Chi GCI Fund & Incubator will bring together innovators from all over the world. Kuang-Chi — a global innovation group with operations from China to North America, Europe, Africa and Oceania – says it will make its full corporate resources, from sales and marketing to technology collaboration and joint development, available to the companies in which it invests.
“Kuang-Chi is one of the most important technology companies in the world today, combining the best of the Shenzhen tech ecosystem with China’s scale and development vision,” said Dorian Barak, managing partner of Indigo Global, Kuang-Chi’s longtime partner in Israel.
“Kuang-Chi isn’t merely a financial investor for their enormous technological resources, distribution networks, and design and product development capabilities to benefit the companies selected for the China-based accelerator. We at Indigo are very excited to manage the platform in Israel with a view to expanding the model globally.”
A senior Kuang-Chi delegation led by Dr. Liu, including representatives of Chinese media outlets and company executives, will visit Israel in early May to formally announce the fund and to meet with high-level government officials and industry leaders. The talks will end with a launch event at the offices of Israeli law firm ERM Law.
“It is a great pleasure to welcome such an important Chinese technology company and we look forward to continued collaboration with Kuang-Chi in Israel,” said ERM senior partner Amnon Epstein.