On the evening of June 2, China Telecom announced that its subsidiary, QuantumCTek Co., Ltd., plans to jointly establish the "China Telecom Quantum Industry Venture Capital Fund (Limited Partnership)" with its affiliate China Telecom Quantum (Beijing) Enterprise Management, China Telecommunications Corporation Investment Co., Ltd., and other parties. The fund's total committed capital reaches 1.5 billion yuan. Once established, it will focus on early-stage and growth-stage enterprises in China's quantum technology and other strategic emerging industries, engaging in venture capital and equity investments.
According to the announcement, China Telecommunications Corporation Investment Co., Ltd., as the major investor, will contribute 735 million yuan, accounting for 49% of the fund. QuantumCTek will invest 300 million yuan of its own funds, representing a 20% stake. China Telecom Quantum Enterprise Management, as the general partner, will contribute 15 million yuan, or 1%. The fund has a term of 10 years, including a 6-year investment period.