(Yicai Global) Nov. 30 -- Beijing Khan, a subsidiary of Shenzhen Qianhai Khan Fund Management Inc. (Qianhai Khan), appears to have bailed on the fund it set up with a CNY500-million (USD75.76 million) investment from Shenzhen National Investment & Development Co. (National Investment), a subsidiary of Chinese chipmaker Nationz Technologies Inc. [SHE:300077].

The investor is unable to contact personnel at its partners and Nationz has suspended trading for up to five days, the latter said in a statement yesterday.

National Investment invested CNY300 million in Beijing Khan to set up an industry investment fund: Shenzhen Guotai. Beijing Khan took lead of the partnership and was responsible for day-to-day operations and making independent decisions on Shenzhen Guotai's business.

With the investment, the fund began looking for high-quality growth projects in pharmaceuticals and emerging technologies and National Investment opted to increase its investment, pumping a further CNY200 million into the fund in March 2016.

The fund made a profit in 2016 and paid out CNY50 million in dividends to National Investment in December that year, before personnel at Beijing Khan and Qianhai Khan went missing.

Nationz reported the matter to the Public Security Bureau on Nov. 28, 2017. As of the release of its latest statement, the company doesn't know whether or not the bureau will investigate the issue.

Qianhai Khan was founded on April 1, 2014 and registered in Shenzhen Market Supervision Administration with capital of CNY120 million. Formerly known as Khan Investment Securities Department, the firm was one of a number of private equity fund managers active in southern China and the Asia Pacific region. It currently has 14 registered products and is chaired by Dai Xuefeng.