JAFCO To Speed China Investment

JAFCO Asia will speed up its investment in China by adding five to six projects this year, Shenzhen Economic Daily reports. Investment in each project will be between US$3 million to $5 million according to JAFCO Hong Kong vice president and general manager Zhou Zhengning. JAFCO started investing in mainland China since the fund's inception in 2001 and has invested in eleven projects in telecom, Internet, semiconductor, software and IT services. JAFCO was the second largest VC shareholder in Beijing-based search player 3721. JAFCO sold its 3721 stake to Yahoo! last November.