Le Sports targets $1bn as HNA commits $185m

Mar 17, 2016 • Robert Lavine

Le Sports, a Wanda Group-backed sports streaming spinout of LeTV, has added HNA Group to a series B round it aims to increase to $1bn.

Diversified conglomerate HNA Group has agreed to invest RMB1.2bn ($185m) in online sports streaming platform Le Sports as part of a series B round that could reach $1.08bn, according to a regulatory filing.

HNA will provide half the funding through a fund advised by its HNA Capital unit, and half through its travel agency subsidiary, HNA-Caissa Travel. It will hold a 5.9% share in Le Sports once the round is closed.

Le Sports, formerly known as LeTV Sports, operates as…

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