Internet group Tencent and asset manager Phoenix Capital have co-led a RMB1.5bn ($227m) series C round for China-based online game streaming platform Douyu TV, E27 reported today.
The round also included private equity firm Shenzhen Capital Group and the Chinese state-backed National SME Development Fund, according to China Money Network, which cited local media reports.
Founded in 2013, Douyu runs an online platform that allows users to livestream their gaming exploits, operating similarly to US-based Twitch. It claimed in March 2016 to have 15 million daily active users and some 200 million monthly active users.
Tencent reportedly invested $61.5m to lead the company’s $100m series B round in March 2016, a round that also featured Sequoia Capital China, Nanshan Capital and, according to All China Tech, game developer Zeus Interactive.
Douyu and Tencent will now formalise their partnership, collaborating on content, and Douyu’s sports division will be incorporated into Tencent’s Qie Live livestreaming platform as a result.
Prior to their involvement in the March round, Sequoia Capital China and Nanshan Capital were among the company’s series A investors, but no details of the round have been disclosed.