Huawei injects fresh capital into Shenzhen investment subsidiary as US-sanctioned tech giant returns to growth
- With the capital infusion, subsidiary Shenzhen Habo Technology Investment Partners raised its registered capital to US$1.1 billion
- That initiative could be a harbinger for Huawei’s increased pace of new investments this year, as the company’s sales rose in 2023
With that infusion, Shenzhen Habo Technology Investment Partners – established in 2021 by Huawei and Habo Investment – last Thursday raised its registered capital to 7.98 billion yuan (US$1.1 billion) from 7 billion yuan previously, according to data from Chinese business registry platform Tianyancha.
Huawei did not immediately respond to a request for comment on Monday.
Venture capital arm Habo made only nine deals last year, compared to a peak of 37 different investments made in 2021, according to a recent report by Chinese consultancy ITJuzi.
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Nearly four out of five deals by Habo were in the advanced manufacturing industry. One of its investee start-ups, photoresist company Fuyang Xinyihua Material Technology, became a unicorn with a valuation of more than US$1 billion.