Chinese
tech giant Lenovo can be investing $500 million throughout startups after it
announced a whole new fund.
Unlike
other corporates, Lenovo carries a history of making deft purchases. Its first
fund, created really and $100 million in space, includes Israeli facial
identification startup Face++, publicly listed Chinese agency iDreamsky and
biometrics consultant Nok Nok Labs through the U. S. among their 40-plus
company portfolio.
Which
consists of second fund, Lenovo said it can be looking to back firms with
synergies to their businesses and, in certain, those in the foreign computing,
big data, unnatural intelligence, robots and various other Internet services
spaces.
Outside
of backing upcoming companies, Lenovo has launched an incubator program due to
the own businesses. In a similar spirit as Baidu, which in turn recently spun
out their video and student mastering services, so Lenovo is moving a
“subsidiary incubation” program allowing you some of its units to travel
independent, raise funding from third-party investors and take advantage of the
new Lenovo Cash and Incubator Group (LCIG).
Lenovo
explained that SHAREit, its file-sharing request, Lenovo Cloud, and Lenovo
Connect as many of the first to benefit from going independent as being a
subsidiary, and it has others planned in the near future.
“Technology
breakthroughs are changing the way we all live today. With our long-industry
history and connection with driving and developing key innovations, we’re
well-prepared to shape the longer term of game-changing technologies by way of
funding and nurturing start-ups along with bringing incubator projects to
showcase, ” Lenovo CTO He Zhiqiang said in a very statement.
Lenovo’s
new fund along with startup push come during a period when the company can be
restructuring after posting its first loss recently amid a challenging
organization environment.
While
it remains the superior PC seller worldwide, the market industry is shrinking
which features impacted Lenovo’s sales. Analyst firm IDC reported that will
Lenovo grew its marketshare via 19. 4 percent throughout Q1 2015 to 20. 1 per
cent in Q1 2016, nevertheless its actual shipment figures fell by 8. 5 percent
over that same one full year period.
Lenovo
is also struggling inside smartphone space. Last thirty day period, IDC found
that the corporation had fallen from your world’s top five mobile phone makers
as its core Chinese market is constantly on the contract.
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