China Everbright, Focus Media form $750m TMT fund
China Everbright and its portfolio company Focus Media, a Chinese outdoor advertising business, have launched a RMB5 billion ($750 million) investment fund that will invest in the technology, media and telecom (TMT) sector.
The vehicle, New Industry Investment Fund, has an initial fundraising target of RMB2 billion. China Everbright has contributed RMB800 million, while Zhong Wei Capital - an onshore investment arm of Focus...
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