(Yicai Global) Aug. 7 -- An overseas unit of China logistics giant SF Holdings Group will invest USD10 million in a new US-based private equity fund and start-up financier IX in order to get access to key technologies.

Bright Hazel signed a subscription agreement with Foundation Capital under which the delivery firm's unit will hold 2.67 percent of the latter's USD375-million fund, the Shenzhen-based logistics parent said in a statement yesterday.

The California-based venture capital firm established the IX fund to tap into the value created by new companies dealing with innovation in the fields of consumption, financial technology, marketing and software in the Silicon Valley. Founded in 1995, Foundation Capital has financed many local firms, such as marketing software firm Reponsys, which was acquired by data manager Oracle in 2013, and solar installer Sunrun, which went public in 2015.

Investing in overseas funds is conducive to SF Holding's access to overseas technologies and enhances the company's core competitiveness and profitability, the firm said, explaining its investment strategy.

Editor: Emmi Laine