A fund under China Everbright Ltd. has made a strategic investment in Yimay Industrial Holding Group, a Yunnan province-based tourism destination and theme park management company.
No financial details were disclosed.
Shandong High-Speed Everbright Industrial Fund, established in 2014 by China Everbright Ltd. and Shandong High-Speed Group, made the investment, with an eye to help the group enhance its management and scale up operations.
The investment is made in accordance to the guidelines of the central government’s encouragement and promotion of China’s tourism industry, the fund said in an announcement.
Yimay operates a theme park in Kunming – the capital city of Yunnan province – featuring local cuisine, specialty products, retail and cultural experiences.
The group also integrates travel agency, transportation, hotels and local services in its offerings.
Shandong High-Speed Everbright Industrial Fund focuses on investing in infrastructure, environmental protection, clean energy, logistics, and other opportunities brought by the urbanization in China.
The fund aims to secure as much as RMB8 billion (US$1.15 billion) in total commitments, according to the company’s website. It’s unclear how much it has raised so far.