IBM and investment bank Lehman Brothers have set up a US$180 million fund to invest in Chinese companies to help them transform themselves through the adoption of information technology and new business practices.IBM and Lehman Brothers each contributed $90 million to the newly established China Investment Fund. Unlike venture capital funds that target startup companies, this fund will also make investments in mid-stage and mature companies, providing them with management and technology expertise as well as cash, they said.The China Investment Fund will invest in companies across a range of industries, the companies said. They did not say when the fund would make its first investment.The joint fund with Lehman expands IBM’s involvement with investors in China, where the company has provided technology and expertise to 250 startup companies backed with venture capital. This is the first time the companies have worked together on investments, they said. -Sumner Lemon, IDG News Service (Singapore Bureau)Related Links: IBM Shifts Procurement Office to China IBM Translation Software to Be Tested by U.S. Military in IraqCheck out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content brandpost Sponsored by Rocket Software Why data virtualization is critical for business success Data is your most valuable resource—but only if you can access it fast enough to address present challenges. Data virtualization is the key. By Milan Shetti, CEO of Rocket Software Nov 28, 2023 4 mins Digital Transformation brandpost Sponsored by Rocket Software The hybrid approach: Get the best of both mainframe and cloud Cloud computing and modernization often go hand in hand, but that doesn’t mean the mainframe should be left behind. A hybrid approach offers the most value, enabling businesses to get the best of both worlds. By Milan Shetti, CEO Rocket Software Nov 28, 2023 4 mins Digital Transformation brandpost Sponsored by Rimini Street Dear Oracle Cloud…I need my own space Access results from a recent Rimini Street survey about why enterprises are rethinking their Oracle relationship and cloud strategy. By Tanya O'Hara Nov 28, 2023 5 mins Cloud Computing brandpost Sponsored by Rimini Street How to evolve IT systems into innovation engines Today’s IT leaders are more than eager to modernize with best-fit cloud solutions that drive innovation and rapid business impact, but they need to do so with ROI-based solutions. By Tanya O'Hara Nov 28, 2023 4 mins IT Leadership Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe