Cycle Capital Management (CCM) and Qingdao City Construction Investment Group (Chengtou) have closed Qingdao Haisi Cycle Fund（青岛海丝Cycle Fund） at RMB 600M or CDN $125 million.
Cycle Capital and Chengtou announced the entering into an agreement to set up a cleantech venture capital in Qingdao in October 2014.
Cycle Capital, based in Montreal, Toronto, New York, Seattle and Qingdao (China), is a pioneer in Canadian Cleantech venture capital fund management and invests in companies in the development and commercialization phases within this sector.
Founded in 2008, Qingdao City Construction Investment Group is directly owned by Qingdao government.
photo credit: CPE Media Inc.