Shenzhen Capital Targets $781M Film And TV Fund

Government-backed Shenzhen Capital Group Co., Ltd. has teamed up the Beijing Film Academy to launch a film and TV investment fund with a fundraising target of RMB5 billion (US$781 million), according to Chinese media reports.

The fund, dubbed Beidian Hongtu Film, will first raise RMB2 billion (US$313 million) to invest in film and TV production projects and companies, hoping to capitalize on the increasing number of Chinese movie-goers, particularly in smaller cities.

The investment vehicle plans to ramp up its investment capital to RMB5 billion in the next five years.

Government-backed Shenzhen Capital Group, which manages RMB40 billion (US$6.25 billion) in total assets, previously invested in dozens of Chinese content businesses, including Chinese online video platform, Le Vision Pictures, Qilin Film Company, and Yang Liping Dance Company.

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