CDB, Israeli bank launch joint VC fund
15 January 2008
China Development Bank (CDB) and Israel Discount Bank have jointly launched a US$350 million venture capital fund on Monday, China Business Net reported (in Chinese). Israeli Deputy Prime Minister Eliyahu Yishai and Chinese Minister of Commerce Chen Deming approved the creation of the fund at a signing ceremony in Beijing. The fund is CDB's sixth international industrial fund in the last 10 years. While CDB remains China's main policy lender, it has become increasingly involved in commercial projects.