Guangzhou-based GF Xinde Investment Management has launched a RMB100 million ($16 million) Internet and media-focused private equity fund with Shenzhen-listed animation company Guangdong Alpha Animation and Culture, according to a company announcement of Alpha Animation.
The fund, named Zhuhai GF Xinde Alpha Industry Fund I, will invest early-stage start-ups across online gaming, advertising, literacy, online video and animation industries.
The fund has received RMB60 million from GF Xinde and RMB40 million from Alpha Animation.
The two parties will also set up a new venture called Zhuhai GF Xinde Alpha Capital to manage the fund.
Founded in 2008, GF Xinde Investment is the investment arm of GF Securities. It provides investment advisory services, covering corporate strategic development, capital structure optimization, IPOs and M&A transactions.