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China's CDH, SenseTime raising about 3b yuan for AI fund: sources

Published Tue, Oct 31, 2017 · 09:50 PM
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Hong Kong

CHINA'S CDH Investments and Hong Kong-based startup SenseTime Group are raising about three billion yuan (S$616 million) to invest in firms working on artificial intelligence (AI) technology, said two sources with knowledge of the matter.

The companies' plan for the fund, which according to the sources will be mainly used to invest in growth-stage AI startups worldwide, comes amid Beijing's drive to be a leader in the technology that is increasingly becoming key to various sectors.

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