HOPU Jinghua (Beijing) Investment Management Company Limited is a private equity investment firm founded in 2008 by Fang Fenglei the then chairman of Goldman Sachs Gao Hua Securities Co.

The purpose of the fund is to invest in emerging technology companies and startups in China and globally in such areas as the Internet of Things (IoT), autonomous vehicles, cloud computing, big data and artificial intelligence (AI).

Neither the present nor the intended value of the fund was not disclosed and nor whether ARM, part of SoftBank Group Corp. of Japan, has invested in the fund.

The existence of the fund would deepen ARM’s roots in China, where ARM already has a strong ecosystem having worked with more than 200 companies, ARM said.

“By opening up this ecosystem, along with financial services from the HOPU-ARM Innovation Fund, we will enable local companies to make rapid advances in the next wave of smart devices, big data and AI to help propel the evolution of China’s information technology industry,” said Allen Wu, president of ARM for Greater China, in a statement.

Sunny Li, managing partner and chief investment officer of HOPU-ARM Innovation Fund, said: “The HOPU-ARM Innovation Fund will utilize the strength of the ARM ecosystem and its core technology as well as HOPU’s rich experience and expertise in investments, enabling local companies to pursue scientific and technological innovation and embrace the next wave of the technology revolution.”

HOPU founder Fenglei is considered well-connected to China’s ruling elite but HOPU also has an unusual history. HOPU surprised investors in 2010 when it suddenly wound down its first fund and went quiet even though that fund had taken part in a number of high-profile and profitable deals. HOPU was resurrected in 2013 when it announced the intention to form a second fund with a value of about $2 billion

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