37 Interactive Entertainment seeks fund fortune

Jun 2, 2017 • Thierry Heles

The internet company has joined forces with private equity firm Oriental Fortune Capital to launch a fund aimed at the entertainment sector, reaching a first, oversubscribed close at $73m.

China-based internet company 37 Interactive Entertainment and private equity firm Oriental Fortune Capital have partnered to establish entertainment-focused vehicle OFC & 37 Internet Entertainment Fund.

The two partners signed the agreement at the OFC Enterprise Service & Internet Entertainment Industry Entrepreneur Summit on April 24, though the deal was only officially announced with a press release on Wednesday.

The fund has a target size of RMB1bn ($150m) and has achieved a first, oversubscribed close at more than RMB500m.

The fund…

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