China-based television and film production studio Beijing Enlight Media intends to launch a RMB 1bn ($163m) corporate venturing fund, China Money Network reported yesterday.
The fund, Huaxing Enlight Venture Investment, will invest in the internet, media and entertainment, e-commerce and healthcare sectors.
Enlight will invest $32.5m in the fund, which will be jointly launched with an undisclosed Shanghai investment firm, and it plans to raise the rest from external partners.
Enlight has produced several films, most notably Lost in Thailand, a comedy which has grossed $200m at the Chinese box office.
The company announced plans in June to build a production studio and theme park in Shanghai, at which it plans to film 100 films or TV episodes over the next five years.