TEL AVIV Jan 13 CreditEase Wealth Management
said on Friday it has raised $32.2 million in one month for its
second fund focused on Israeli technology and plans to reach a
total capital commitment of $50 million.
Its first fund, CreditEase Israel Innovation Fund I, closed
in October 2015, raising $30 million.
"CreditEase Wealth Management is the first Chinese
financial-services firm to establish a local office in Israel,"
said Tayman Kan, managing partner of CEIIF.
"With China's economy transforming from traditional
labour-intensive manufacturing to a service-driven model, we
continue to see more and more Chinese investors diversifying
investments across regions and asset classes."
The first fund made eight investments in early and
later-stage start-ups, including Corephotonics, a maker of dual
camera technologies for smartphones.
The second fund will invest in virtual and augmented
reality, artificial intelligence and machine learning, digital
healthcare, the Internet of Things, cloud and data storage and
CreditEase Wealth Management offers global asset allocation
services for the wealthy and middle class in China.
(Reporting by Tova Cohen)