China's much-hyped unicorn funds launched, but get a poor response

Once marketed with great fanfare as an “epoch-making gala for investors,” the six Chinese “unicorn” funds quietly began operations on Monday - alongside Xiaomi Corp’s lacklustre Hong Kong debut - after raising just one third of their original targets.   The six funds, launched to support mainland listings of home-grown tech firms such as smartphone maker Xiaomi and e-commerce giant Alibaba Group Holding, originally sought to raise 300 billion yuan ($45.

33 billion) from retail and institutional investors..

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