Kuang-Chi Announces Launch of UK Investment Strategy
HONG KONG and LONDON, January 16, 2017
Kuang-Chi Group, a Chinese disruptive technology group, announced the launch of its UK investment strategy today, as well as its investment of $30 million in Gilo Industries Group (‘Gilo’), an advanced aerospace technology company based in Dorset, Kuang-Chi’s first UK investment to date.
Kuang-Chi, based in Shenzhen, China, launched an international innovation fund in 2016, known as the Kuang-Chi GCI Fund (GCI Fund), to invest in companies worldwide. The fund is planned to grow to $300 million within the next three years, with a large focus on the UK, and Kuang-Chi expects the size of overall investments in the UK to be even larger in subsequent years.
With Gilo as a new member of Kuang-Chi’s GCI portfolio companies, Kuang-Chi’s investment is intended to improve and further commercialize its aviation technology and will help the company expand its business in the Asia-Pacific market and establish relationships with global market leaders across multiple industries. Gilo will continue to be headquartered in Shaftsbury, Dorset and all its manufacturing facilities will remain in the UK.
Dr. Ruopeng Liu, Chairman of Kuang-Chi, said, “The UK has a very attractive atmosphere for innovation with great potential for further growth. We are delighted to make our first UK investment in Gilo, which we hope to be the first of many investments in the coming years. Gilo is a fantastic company that is a leader in innovation, with breakthrough aerospace engineering technologies and products. We look forward to working with them to develop our visionary aviation technology.”
He further explained, “This is only the start of Kuang-Chi’s UK investment plans. Despite some fears surrounding Brexit, innovation is booming in the UK and Kuang-Chi has confidence in the UK market, which has a long history and a good reputation for innovation that will not fade away easily. Investing in British startups and technology companies in the growth stage is a key part of our long term strategic plan to invest in the most exciting, disruptive and innovative technologies around the world.”
Gilo Cardozo, Founder of Gilo, said, “The support from Kuang-Chi is exactly what we need to continue to expand our production capabilities and embrace exciting new manufacturing technologies to help us grow and succeed in the global marketplace. It is a really clear example of how international organizations look to all areas of Britain for innovation and entrepreneurship and how they can boost regional, national and global industries.”
In addition, Kuang-Chi launched the GCI Fund II at the end of last year, which will invest up to $250 million in companies developing technology in industries including robotics, IoT, telecommunications, and digital health, with a strong focus on the UK.