Shanghai based venture capital firm China Materialia has launched a second venture capital fund China Materialia Fund II, with GE Ventures as the lead Limited Partner. Other corporate limited partners participating in the first closing include Samsung Ventures, SABIC Ventures,Chinese companies Levson and Tianjing Runfeng.

In a country where internet, mobile internet and consumer services have been the center-of-attention for venture capitalists, China Materialia stands out with its focus on “hard technologies”that encompass new materials, advanced manufacturing, energy and environment.Founded in 2010, China Materialia raised its first fund of 160 million RMB in2011, with a mission to look for “world-class” technologies that enable compelling solutions to world’s pressing problems. The China Materialia Fund I funded 10 companies, ranging from medical devices, Industrial internet, to digital oil field services.

China Materialia’s CEO Dr. Min Zhou said: “We are honored and excited to partner with world’s leading industrial companies to launch China Materialia Fund II. Compared to IT companies, innovations in materials or advanced manufacturing take significantly more money, time, and resources to reach commercial success. Partnering with multi-national companiesis not only beneficial, but also necessary. This venture illustrates the rising innovation level in the country, as well as the important role that China plays as a beachhead market for many of world’s hard-tech innovations.”

Commenting on investment in China Materialia Fund II, Dr. Karen Kerr, head of Advanced Manufacturing practice at GE Ventures said:“As part of our transformation to become the leading Digital Industrial Company, GE Ventures is excited to collaborate with China Materialia, Samsung and SABIC to continue fostering innovation in China. We are committed to working with the local entrepreneurial ecosystem to grow companies that advance industries and improve lives.”

Besides the corporate investors, China Materialia Fund II also received commitments from the Shanghai government, with Shanghai venture capital guidance fund, Shanghai Baoshan Investment Management Co. and Shanghai Baoshan Industrial Park Development Co all contributing.