Forbes.com: Motorola Ventures plans 15-20 mln usd investment in China next yr

Forbes.com: Motorola Ventures plans 15-20 mln usd investment in China next yr

Motorola Ventures plans 15-20 mln usd investment in China next yr
, 06.30.04, 11:02 AM ET

BEIJING (AFX-ASIA) - Motorola Inc's strategic venture capital arm Motorola Ventures said it plans to boost its annual investment in China to as much as 15-20 mln usd next year, up from 10-15 mln this year, to meet its target of 400 mln yuan worth of investments under management by the end of 2007.

In addition, Motorola said it is going to shift the focus of its China investment strategy towards investing in mainland entrepreneurs, instead of locking themselves into joint ventures.

"Chinese entrepreneurs are developing unique things a lot faster than Motorola is. We don't want to fall behind by not paying attention to what's going on," Matthew Insley Growney, managing director of Motorola Ventures, said in an interview with AFX-Asia on the sidelines of the Asian Venture Forum in Beijing.

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