A new Australian venture capital fund has been created to capture the estimated $400 million of Chinese visa money that has been designated to back technology start-ups.
The fund, Sapien Ventures, founded by Victor Jiang, is seeking to raise $50 million from predominantly Chinese investors that must invest one-tenth of the $5 million required to obtain a significant investor visa to live in Australia.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
