Japan's SoftBank plans to invest over $100 million in a joint venture (JV) with the international arm of Chinese internet insurer ZhongAn Online P&C Insurance.
SoftBank’s Vision Fund will own 51 percent of the venture that aims to sell the Chinese firm’s technology to financial and healthcare firms in Asia-Pacific.
ZhongAn will have a 49 percent stake in the venture, which will have an initial capital of $200 million.
In September last year, SoftBank bought under 5 percent of ZhongAn as part of the insurer’s stock market debut in Hong Kong.