Accelink issued an announcement on the evening of April 25 that it will commit RMB40.00M and Wuhan Guanggu Fenghuo Technology Venture Capital Co., Ltd. will contribute RMB10.00M to jointly launch Wuhan Optoelectronics Industry Development & Investment Fund in the form of limited partnership.

As the controlling shareholder, Wuhan Accelink technologies Co., Ltd. holds a 49.6% stake in Fenghuo Venture Capital, and consequently this cooperation constitutes a related party transaction.

According to the announcement, the fund size is RMB300.00M, with the first close of RMB100.00M. Apart from the above mentioned RMB50.00M, the remaining RMB50.00M will be raised from government at the township level and public capital. The fund will mainly focus on equity investment in high growth and innovation-based companies and newly projects of the optoelectronics industry.

Source:pedaily.cn