Beijing-based Chinese online video platform LeTV.com is planning to raise a buyout fund, according to a company announcement.
The fund, named Ling Shi Investment Fund, will target to raise RMB500 million to RMB1 billion ($80 million to US$160 million).
Shenzhen-listed LeTV.com will commit RMB10 million to the fund. LeTV Holdings, the parent company that owns 46.57% of LeTV.com, will commit RMB90 million.
LeTV Holdings will seek to raise the remaining capital from third-party investors.
The fund will invest in LeTV’s ecosystems, including content, internet, mobile internet, cloud computing and smart devices.
It will focused on buyout and restructuring opportunities.
LeTV Holding’s investment arm, Ling Shi Capital Management, will act as the fund’s manager.
