Private equity fund Advantech Capital Investment II Ltd. backed Seven Stars Cloud Group Inc. with an investment of $12 million.
Seven Stars Cloud Group said Aug. 10 that it also restructured its private placement from GT Dollar Pte. Ltd. to $10 million.
Seven Stars Cloud Group will use the investments to accelerate the adoption of its artificial intelligence and blockchain-based technologies into various business verticals.
Seven Stars Cloud is a global technology company focused on digital asset production and distribution. GT Dollar is a Singapore-based global virtual credit clearing system operator connecting more than 2 million businesses worldwide.