(Yicai Global) Aug. 7 -- An overseas unit of Chinese logistics giant SF Holdings Group will invest USD10 million in a new US private equity fund and startup financier in order to gain access to key technologies.

Bright Hazel signed a deal with Foundation Capital under which the unit will hold 2.67 percent of the USD375 million IX fund, Shenzhen-based SF Holdings said in a statement yesterday.The fund taps into the value created by new firms that innovate in the fields of consumption, financial technology, marketing and software in Silicon Valley.

Founded in 1995, Foundation Capital has financed many local companies 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 will help SF Holdings gain access to overseas technologies and enhances the company's core competitiveness and profitability, it said.

Editor: Emmi Laine