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Cybernaut China sets up $95 mln in venture funds

SHANGHAI
Mon Dec 1, 2008 6:07pm EST

SHANGHAI (Reuters) - Cybernaut (China) Investment, a partner of U.S. venture capital fund New Enterprise Associates, has set up two venture capital funds with a combined 650 million yuan ($95.24 million), a company source familiar with the matter said on Monday.

Private Capital  |  China

The funds, set up in cooperation with the government of eastern China's Zhejian province, would invest in clean energy and health care projects, said the source, who declined to be identified as they were not authorised to speak to the media.

Cybernaut (China) Investment already has $250 million in foreign currency assets under management.

($1=6.825 Yuan)

(Reporting by Helen Ding; Editing by Anne Marie Roantree)
Private Capital
China


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