Joint VC fund set up by China, GE and Samsung to support graphene-related startups

Shanghai’s Baoshan district government, in conjunction with General Electric, Samsung and Sabic, recently launched a 400 million yuan (US$59 million) venture capital fund to support startup companies set up by expats. The fund will invest in the development and applications of new materials, with a special focus on graphene.

The fund will aim to draw global professionals and the world’s leading graphene-related projects to Baoshan to create a major research hub to develop the graphene-enhanced products. Baoshan aims to lure at least 10,000 innovative and startup firms by the end of the year to set up in an area along seven stations of Metro Line 1 between Gongkang and Fujin stations.