Media group leads investors in US$307m fund
Print Edition
SHANGHAI United Media Group was among the investment partners in a new 2 billion yuan (US$307 million) fund that was set up yesterday to pursue opportunities in the fields of new media, Internet Plus and information technology.
Other founding investors in the 825 Fund — which will mainly seek early and mid-stage investments and possible mergers and acquisitions — include Guochuang Yuanhe, Gopher Asset Management and Meridian Capital.
“The 825 Fund ... consists of industry capital, finance capital and a professional management team, as well as a media brand and other resources,” said Qiu Xin, chairman of the media group.
The first phase of the fund was set up in 2014 with 1.2 billion yuan. It has since invested in 59 projects, including Weimob, which provides e-commerce services via WeChat.
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