Fosun Venture Capital, the corporate venturing unit of the eponymous China conglomerate, is pumping tens of millions of dollars into social media marketing, namely with its recent series B investment in Kongming.
Fosun Groups’s venture capital arm Fosun Venture Capital Investment has led a series B round of funding in China-based social media marketing company Kongming, also of China. The deal is reportedly worth tens of millions of dollars, according to Chinese media. Series A backer Fidelity Growth Partners Asia also took part in the round.
Kongming will use the funds to accelerate and build up on technology system building, new product development and expanding its customer team.
Kongming provides products and…