china everbright limited and focus media join forces to set up a rmb5 billion “new industry investment fund”
business related 30 aug 2016
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china everbright limited (“cel”, stock code: 165.hk) announced today, in partnership with focus media information technology co ltd (“focus media”, stock code: 002027.sz), to kick-off the establishment for a “new industry investment fund” with a total committed capital of rmb5 billion, of which the initial fundraising scale is estimated to be rmb2 billion.
with a premier position in china’s cross-border asset management industry, cel has moved swiftly to position itself in the tmt sector this year. led by its super project acquisition fund department, cel successfully established an m&a fund that focuses on major tmt projects in june 2016 with idg capital partners. as china’s most influential m&a fund, it represents a strong partnership between a cross-border asset management platform backed by a leading state-owned enterprise and a professional institutional investor with international renown. with a focus on high-growth, early-stage projects in emerging industries, the latest partnership with focus media, mainland china’s largest listed media company, to set up this “new industry investment fund” by bringing capital and industry expertise together marks yet another successful foray into tmt investment by cel. the new fund is a major growth fund in the tmt sector.
the fund will capitalise on cel’s integrated strengths in investment, capital operations, industry consolidation and asset management, as well as focus media’s industry resources and position as the mainland’s biggest provider of digital lifestyle solutions. the fund focuses on quality growth-stage projects in such sub-sectors as general entertainment, consumption upgrading, vertical e-commerce, and internet finance. by contributing its industry-leading resources in terms of customers and partners to the upstream and downstream marketing chain and ecosystem, focus media will also draw on cel’s wealth of experience and resources in m&a consolidation and equity investment, in the hope of creating a unique “industry capital” new industry investment fund to generate substantial returns for both parties and investors.
chen shuang, cel’s executive director and chief executive officer, said, “we will take advantage of the industry investment opportunities brought about by china’s industry restructuring, consumption upgrading and ‘internet ’ strategy to step up our investment planning efforts in new industry sector of strategic importance. as china’s largest digital lifestyle solutions provider, focus media’s wide-ranging digital lifestyle offerings cover top enterprises in china’s emerging industries. by bringing together experts and resources of both companies, this strategic partnership aims to create a new emerging industries fund focusing on the tmt sector. it also marks a milestone step forward, together, in a direction empowered by the growth concept of ‘industry capital’.”
with a premier position in china’s cross-border asset management industry, cel has moved swiftly to position itself in the tmt sector this year. led by its super project acquisition fund department, cel successfully established an m&a fund that focuses on major tmt projects in june 2016 with idg capital partners. as china’s most influential m&a fund, it represents a strong partnership between a cross-border asset management platform backed by a leading state-owned enterprise and a professional institutional investor with international renown. with a focus on high-growth, early-stage projects in emerging industries, the latest partnership with focus media, mainland china’s largest listed media company, to set up this “new industry investment fund” by bringing capital and industry expertise together marks yet another successful foray into tmt investment by cel. the new fund is a major growth fund in the tmt sector.
the fund will capitalise on cel’s integrated strengths in investment, capital operations, industry consolidation and asset management, as well as focus media’s industry resources and position as the mainland’s biggest provider of digital lifestyle solutions. the fund focuses on quality growth-stage projects in such sub-sectors as general entertainment, consumption upgrading, vertical e-commerce, and internet finance. by contributing its industry-leading resources in terms of customers and partners to the upstream and downstream marketing chain and ecosystem, focus media will also draw on cel’s wealth of experience and resources in m&a consolidation and equity investment, in the hope of creating a unique “industry capital” new industry investment fund to generate substantial returns for both parties and investors.
chen shuang, cel’s executive director and chief executive officer, said, “we will take advantage of the industry investment opportunities brought about by china’s industry restructuring, consumption upgrading and ‘internet ’ strategy to step up our investment planning efforts in new industry sector of strategic importance. as china’s largest digital lifestyle solutions provider, focus media’s wide-ranging digital lifestyle offerings cover top enterprises in china’s emerging industries. by bringing together experts and resources of both companies, this strategic partnership aims to create a new emerging industries fund focusing on the tmt sector. it also marks a milestone step forward, together, in a direction empowered by the growth concept of ‘industry capital’.”
