Chinese PE firm Sharewin Investment reaches first close of AI fund at $72m

Chinese PE firm Sharewin Investment reaches first close of AI fund at $72m

An attendee photographs an autonomous parcel delivery robot, developed by Starship Technologies Ltd. at the AI Congress in London, U.K., on Tuesday, Jan. 30, 2018. Photographer: Luke MacGregor/Bloomberg

Chinese private equity fund Sharewin Investment announced on Friday that it has reached the first closing of a new fund at 500 million yuan ($72 million) for investments in the artificial intelligence (AI) industry in China.