Qianjiang Century City [Photo/zj.zjol.com.cn]

The Rongteng 5G Industrial Fund was recently established in the Qianjiang Century City in Hangzhou.

The fund, founded in December 2019, is comprised of capital from several investment institutions, listed companies, and the industrial fund of the local government. It is managed by Winreal Investment, a specialized investment management corporation with a 5G industrial background.

Investors included SAIC Capital, Zhejiang Daily Media, Sunon Group Co, Zhongji Innolight, UOB Venture Management, Zhejiang Jihua Group, Zhejiang Dashnegda Group, Rongsheng Group, Haitian Group, and Baihe Group.

The fund will receive 2 billion yuan ($282 million) in total investment, with 1 billion yuan already received.

The fund is expected to receive a second round of investment valued at 200 million yuan in the first half of this year.

Following its successful registration, the fund will soon begin investing in leading companies involved in the 5G industrial chain across the country.

It aims to nurture a 5G industrial market worth more than 100 billion yuan and 100 leading companies in 5G-related industries.