Avazu, a China-based digital advertising platform, has raised $48m in a series A round featuring several undisclosed corporate investors.

The e-commerce company has extended its financial services offerings with a film, TV and game investment platform that will raise capital through crowdfunding.

The China-based internet company will take a 28% share of CJ, and will also acquire its sister company Netmarble through the deal.

Souq.com, an e-commerce site that serves the Middle East and North Africa, has secured $75m from e-commerce group Naspers, an existing investor.

McGovern launched IDG Ventures in 1996, and has brought a willingness to expand internationally to both the unit and its parent company.

The Naspers and Tencent-backed, ibiboGroup has followed its purchase of bus ticketing company redBus last year with the acquisition of another India-based bus travel service.

The UK-based media and advertising company would increase its share of the Indian ad agency to 87% through the deal.

China Media Capital is raising a "few hundred million" for a dollar denominated investment fund, and investors will include Softbank, WPP and Time Warner.

The China-based property and land developer will aim to bring technology developed by US firms through the incubator to the Chinese market.