The video streaming and electronics firm plans to raise more than $1.5bn for a fund that will launch next month in partnership with venture firm Changshi Capital.
China-based entertainment and hardware producer LeTV Holdings has set a RMB10bn ($1.54bn) target for a corporate venturing fund, China Money Network reported yesterday, citing local media reports.
The Changle Industry Fund will back companies focused on big data, artificial intelligence and entertainment, and will be co-managed with venture capital firm Changshi Capital.
The fund is expected to begin operations in early 2016 with between RMB3bn and RMB5bn from LeTV and third-party limited partners.
LeTV, also known as Leshi Internet Information…
