Future Planet Capital and Eight Great Technologies Fund sign MOU to promote the growth of Sino-British tech companies during PM's trip to China

- FPC supports Eight Great Technologies in what is planned to be one of the biggest ever single investments into British innovation
- Reinforces entrepreneurial partnership between the UK and China
- Shenzen Qian Hai Sunflower Financial Services and Jian Xin Tian Ran Investment Management will in principle invest 3 billion RMB ($470 million)
- Boosts healthcare innovation and bio-technology collaboration between the UK and China

Beijing, 1 February 2018 – Future Planet Capital (“FPC”) is delighted to sign a Memorandum of Understanding with Eight Great Technologies Fund (“8GT”), Shenzhen Qian Hai Sunflower Financial Services (“SZQH Sunflower”) and Jian Xin Tian Ran Investment Management (“TRD Investment”) to collaborate on commercialising technologies and promoting innovation between the UK and China (collectively “the Parties”).

The agreement was signed during UK Prime Minister Theresa May’s state visit to China and witnessed by Secretary of State for International Trade Liam Fox and President of Chinese Health Information and Big Data Association Jin Xiaotao. It serves an example of the enhanced Golden Era in Sino-UK relations and is one of several recent commercial announcements, collectively worth around £1.4 billion.

China’s startup industry is booming – the country produced 15 of the world’s 41 technology companies reaching unicorn status in the last year. The UK’s technology sector is also rapidly growing – tech venture capital investment reached a record high of £2.99bn in 2017 - four times more than Paris, its nearest European rival.

SZQH Sunflower and TRD Investment will in principle invest $3bn RMB ($470m USD) in healthcare innovation and bio-technology between the UK and China. Such collaborations may include the engagement with 8GT, in partnership with FPC, as well as investment into Eight Great Technologies China UK Technology Fund, a dedicated China-UK venture capital and growth fund.

Douglas Hansen-Luke, executive chairman at Future Planet Capital, said: “We are honoured to support 8GT’s leading scientists and delighted to be part of a consortium receiving China's biggest ever single investment into foreign IP. This partnership demonstrates our continued commitment to accelerating innovation in leading centres of innovation around the world. This collaborative effort is unique: we look forward to working together closely to fund the companies of the future addressing global challenges today."

Asked about the role of the Government in promoting British technology, Douglas said, "ongoing support from the science and innovation network at the British Embassy in Beijing, the Capital Investment Group and particularly the Venture Capital Unit of the Department for International Trade has been instrumental in securing the commitment of Chinese investors.”

Malcolm Glaister, Partner and CEO, Eight Great Technologies Fund, said: “Future Planet Capital and 8GT have formed a unique platform, integrating leading scientists and sector experts at the core of the investment process. We already have a pipeline of companies who are keen to grow both in the UK and through Chinese markets, to become the global technology successes of the future.”