November 14, 2016: A creation of $150 million (RMB1 billion) fund-of-funds is being pushed by Redbud Capital, an investment platform under Tsinghua Holdings, as it teams up with the State-owned Assets Supervision and Administration Commission (SASAC) of Yiwu City and Zhejiang China Commodities City Group.
Each entity committed undisclosed capital to the fund which will be invested in venture funds, the China Money Network, reported.
