CHINA TOPIX

Chinese Firm CSC Group to Fund Artificial Intelligence Incubator in Britain

S. Rina   |

Oct 11, 2016 02:42 PM EDT

Chinese state-backed private equity firm CSC Group has inked a multimillion deal with British startup incubator Founders Factory. The collaboration will see both firms hiring 60 people and investing in five early-stage AI startups. It also plans to launch two new companies every year. CSC Capital is the third largest private equity fund in China.