Mitsubishi Corp. and China's Creat Group Co. will establish a 50-50 joint venture, MC Creat Fund Management, in Hong Kong to set up funds that will provide capital to Japanese companies aiming to expand their business in China.
The first JPY 10 billion fund will target (i) midsize Japanese companies with strong technologies or brands, but need financial and operational support to tap into the Chinese market. The fund will also invest in (ii) joint ventures between Japanese and Chinese firms and (iii) Chinese companies with the potential to become strategic partners of Japanese companies.
Mitsubishi is establishing a 100% subsidiary, Kizuna Partners, which will source Japanese companies for investments.
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