A consortium of companies and individuals linked to China-based ZTE have created a joint venture to focus on equity investment in unlisted companies in the technology, media, and telecom industries.

Chinese telecom device maker ZTE and its subsidiary Xinghe Capital and ZTE's executive director Yin Yimin have signed an agreement with 47 investors to establish a joint venture with total investments of CNY1.2 billion.

Xinghe Capital is the general partner of the joint venture; while ZTE, Yin Yimin and the other 47 investors are limited partners. ZTE will invest CNY300 million in the joint venture, accounting for 25% of the total investment; Xinghe Capital will invest CNY10 million, accounting for 0.83%; Yin will invest CNY15 million, accounting for 1.25%; and the other 47 investors will invest CNY875 million, accounting for 72.92%.

The joint venture will return the principal by the investment ratio of the partners, and 20% of the remaining profit will be allocated to the general partner and 80% will be allocated to limited partners.

ZTE has not provided further information about the exact capitalization of the JV or where it will be headquartered in China.