Investment, Private Equity, Tech

Phoenix Capital, Tencent Co-Lead $226M Series C In DouyuTV

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DouyuTV, a game and entertainment live broadcast platform in China, has raised a RMB1.5 billion (US$226 million) new financing round led by Phoenix Capital Asset Management and Tencent Holdings Ltd., according to Chinese media reports.

Shenzhen Capital Group and National SME Development Fund also participated in the round, bringing the total capital raised by the start-up at a whopping RMB2 billion plus this year.

In March, DouyuTV just received a US$100 million series B financing round led by Tencent, with participation from Sequoia Capital China and Nanshan Capital.

"The capital markets have been very optimistic about our future potential," says Chen Shaojie, founder of DouyuTV. "Our deep capital reserve will solidify our leading position to help drive growth of our business."

After the latest round of financing, DouyuTV plans to further cooperate with Tencent in copyright content sharing.

The sports unit of DouyuTV will be integrated into Qie Live, a live broadcast platform under Tencent.

Founded in January 2014, Douyu TV claims to have 15 million daily active users and 200 million monthly active users, with a 70% share of the market.

It raised several million U.S. dollar series A funding from Sequoia Capital China in September 2014.

Wuhan-based DouyuTV’s specialty is video game live broadcast, where users can share and watch how other players perform in popular video game series.

 


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