China Construction Bank (CCB) has started a RMB2bn ($308m) media-focused corporate venturing fund backed by some of the country’s largest firms.
The CCB International Cultural Industry Private Equity Fund will invest in broadcasting, film and publishing industries. The first deal is Beijing Galloping Horse Film & TV Production Company.
Its investors include CCB, China Publishing Group Corporation, China Film Group Corporation, Qixian Investment, Jiangsu Yurun Group and Hubei Wuhan Gongmao Group, according to news provider PEDaily.