Shanghai’s Nord Engine To Invest $250M In European Tech SMEs

Chinese financial services firm Shanghai Nord Engine Asset Management Group says it will invest US$250 million in small- and medium-enterprises in the U.K. and Europe, according to an announcement posted on its website.

The Shanghai-based company did not specify where the capital will be from, and in what format will its investments take place.

The company is targeting companies in the technology sector with strong commercial research and development capabilities, and it plans to help invested companies to expand in China.

The announcement is made on the occasion of Chinese Premier Li Keqiang’s official visit to the U.K. this week.

The Shanghai-based company says it will also open its first overseas operation in the U.K. later this year.

Founded in 2008, Nord Engine Asset Management’s principle activities include hedge funds, equity investment, investment banking, fixed income, foreign investment in commodities and real estate funds, according to its website.

The company has subsidiaries including Shanghai Nord Engine Asset Management, Shanghai Nord Engine Investment Management, Shanghai Nord Engine Venture Capital Development Center, Shanghai Nord Engine Equity Investment Management Co., Ltd.