Kingsoft, Xiaomi To Launch $33M Intellectual Property Fund

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Beijing-based Chinese security software firm Kingsoft Corporation Limited says it plans to establish a RMB200 million (US$33 million) fund to invest in intellectual properties in China, according to a regulatory filing.

The fund will be jointly established by a subsidiary of Kingsoft, a subsidiary of Chinese smartphone maker Xiaomi Inc., and another entity connected with Xiaomi’s founder, Lei Jun.

Lei Jun is also the co-founder and chairman of the board of Kingsoft.

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