Chinese Internet giant Baidu Inc. and China Life Insurance Co., Ltd will launch a RMB7 billion (US$1 billion) private equity fund targeting investment opportunities in the Internet, artificial intelligence, online finance and mobility sectors. While China Life will contribute most of the money, the fund will be named Baidu Fund Partnership, likely in recognition of that company’s high-profile presence in the technology sector. China Life will commit up to RMB5.6 billion (US$840 million) to the new fund, while Baidu will …
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