MOU signing between SILK Ventures and Zhongguancun Group

SILK Ventures and the Zhongguancun Development Group (ZDG) have today signed a Memorandum of Understanding under the witnessing of Secretary of State Liam Fox, outlining the agreement between the two parties to cooperate on investments in technology companies that have potential to scale in China through the resources made available by ZDG.

Zhongguancun is the largest and most prominent technology hub in China, often referred to as “China’s Silicon Valley”. It boasts a resource-rich environment thanks to the proximity of China’s leading talent-breeding institutions – Peking University, Tsinghua University and China Academy of Sciences – as well as the presence of technology corporations, including over 300 regional HQs of multinationals such as Microsoft, Intel, AMD, Oracle, IBM, Sony, and many others. Zhongguancun is also the birth place of companies like Lenovo, Baidu, and thousands others which have set up over 12,000 branches outside Beijing.