China’s private fund industry has seen its assets under management climb to a record high, buoyed by rebounding market confidence and a surge in technology-related investments.The nation’s private investment funds had assets totalling 23.46 trillion yuan (US$3.46 trillion) as of the end of April, up from 20.22 trillion yuan a year earlier, according to data released by the Asset Management Association of China on Wednesday.The industry – which spans private equity, venture capital and private securities investment funds – is a vital part of China’s capital market, which propels the growth of a large number of tech start-ups.AdvertisementIts resurgence has…