19 Jun Shanghai’s Nord Engine to invest $250m in European SMEs
Chinese financial services firm Shanghai Nord Engine Asset Management Group says it will invest US$250 million in small and medium-sized enterprises in UK, Europe and North America according to an announcement posted on its website.
The Shanghai-based company did not specify where the capital will be from, and in what format will its investments take place.
The company is targeting companies in the technology space with strong commercial R&D capabilities, and it plans to help investee companies grow and expand in China.
The announcement is made on the occasion of Chinese Premier Li Keqiang’s official visit to the UK this week.
The Shanghai-based company says it will also open its first overseas operation in the UK later this year.
Founded in 2008, the Nord Engine Asset Management Group’s principle activities include hedge funds, equity investment, investment banking, fixed income, foreign investment in commodities and real estate funds, as per its website.
The company has subsidiaries including Shanghai Nord Engine Investment Management, Shanghai Nord Engine Venture Capital Development Centre and Shanghai Nord Engine Equity Investment Management Co. Ltd.