Silk Ventures, a venture capital firm supported by Chinese government, plans to invest USD 500 million for US and European technology startups specializing in Fintech, AI, and medical technologies, reported Bloomberg on May 15. Silk Ventures has offices in Shenzhen, Beijing, London and Silicon Valley and is dedicated to bridging European, US, and Israel technology startups with the Chinese market by helping them to cope with the challenges of strict government regulations in China. Half of 500 million comes from SASAC (State-owned Assets Supervision and Administration Commission) of the State Council that regulates and supervises all state-owned enterprises in China. Silk Ventures declined to reveal the name of investors that raised the remaining half of the fund but said that it will announce the first investment target in July this year.