China's GSR Capital launching $5 bln fund for global tech deals

July 27, 2015 9:22 AM

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HONG KONG, July 27 Chinese investment firm GSR Capital is launching a $5 billion fund to invest in global technology companies, counting on huge demand at home to create economies of scale in pharmaceuticals, energy saving and mobile phone technology.

Little known GSR Capital shot into the limelight in April when it teamed up with other investors to buy Philips's lighting component unit for $2.8 billion, trumping marquee buyout firms, including a joint offer by KKR & Co and CVC Capital and a separate one from Bain Capital.

Also read: Texas IT company building global headquarters in S. Carolina

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