LeTV to Invest RMB 100 Mln in Smart TV App Developers

Netease Tech, 1/11/13

Yang Yongqiang, CTO of Chinese online video site LeTV (Leshi) (300104.SZ), announced at the Geekpark Innovation Conference today that LeTV will join with Beijing-based VC and incubator Innovation Works and Shenzhen Capital Group to establish the "Kaiping Fund" (unofficial translation; literally "Screen-On Fund"), which will invest up to RMB 100 mln in promising projects over the next three years.

The Kaiping Fund will focus chiefly on smart TV applications, including home entertainment and gaming, video, social, and educational apps. According to LeTV, the new fund will invest in projects through a combination of loan equity investments, partial purchases of shares, total acquisitions, and rolling investments.

Editor's Note: For more background on this topic, please see "LeTV Launches Smart TV App Platform" MD 3/31/12 issue.

Keywords: funding Yang Yongqiang television LeTV VC Shenzhen Capital Group Innovation Works 300104.SZ smart TV Leshi

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily