China-based Media Asia Group, Korea-based S.M. Entertainment and Taiwan-based conglomerate Fubon plan to jointly form an investment fund to support film and television projects in China, China Money Network has reported.
The fund, Dragon Tiger Capital Partners, is being set up with $20m of seed money, but will begin seeking to raise between $100m and $200m in capital from institutional investors from later this month, according to a regulatory filing.
The media companies will manage Dragon Tiger, while Fubon will act as a co-sponsor. It will invest in vehicles based around China and Chinese language speakers across the world.