MATRIX PARTNERS IN CHINESE INSURANCE BROKER INVESTMENT

Chinese insurance broker Huakang Financial has received a $25m investment from Matrix Partners China Fund, reports claim. The broker is expected to list on an overseas stock market in the latter half of next year, with most commentators predicting it will be the Nasdaq that is chosen. Confirmation of the Matrix Partners investment came as it was also reported by Reuters that US venture capital firm IDG, which invested $25m in Huakang in 2006, had also increased its investment.