A consortium of Chinese state-owned companies and private enterprises has created a $1.44 billion investment fund dedicated to fintech mergers and acquisitions.
The fund, Asia FinTech Merger and Acquisition Fund of Funds, is led by Hong Kong-listed Credit China FinTech Holdings along with a number of other Chinese companies such as Shanghai Xinhua Distribution Group, China Huarong International and eight other corporate partners.
Investments will focus on fintech fields such as big data, artificial intelligence, mobile payments, supply chain financing, and blockchain technology.
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