Chinese Culture Industry Investment Fund runs

Recently, the first domestic renminbi private equity fund, which focuses on the investment and financing of the culture and media industry, announced the completion of the initial 2 billion yuan fundraising and will be officially put into operation.

CMC's main sponsors and investors have strong financial investment and cultural media industry background, including those by Shanghai Oriental Media Group Limited, Shanghai Oriental Hui Gold, cultural industry Investment limited companies, the National Development Bank under the state-run financial limited liability company, China Merchants Chinese Fund under the Shenzhen Tian Zheng Investment Co., Ltd., Wen Hui Xinmin United Press Group, Shanghai Public Utilities (Group) Co., Ltd. under the Volkswagen Group Capital Equity Investment Co., Ltd., broadband capital and other institutions.

Li is CMC's chairman and general manager, and his more well-known identity is SMG's president. "This is a reform attempt in the field of media culture industry investment, and explores how to interact with the capital market creatively through financial instruments under the policy framework." Li told the Daily Economic news.

It is reported that the organization will focus on cultural and media restructuring, industry integration and industry innovation, positioning themselves as the promotion of domestic cultural industry across the development of strategic investors; at the same time, the Fund will also strive to "go out" of Chinese culture, the use of capital means to intervene in the international media market, To explore and construct a global media investment and operation platform belonging to China.

Specifically, the fund will focus on the target companies to provide growth of capital, corporate restructuring, management buyout and other market-based financing.

Li has previously said that the value of Chinese media assets is seriously underestimated today, only the capital market can discover its full intrinsic value and market potential.

From the nature of the investment subject, the basic is the exclusively background, which has become the focus of this attempt. Previous analysis that in the more specific rumors of cultural industry, with state-funded institutions to form private equity funds, the reform in the meantime is afraid of greater difficulty.

"This is what CMC is trying to do," Li said, which was originally an exploration of the innovation of the media's operating system, stressing that while the investor is a national capital, it operates in strict accordance with the rules of the market operation of private equity funds.

Guotai Institute executive Deputy Director, media industry chief analyst Tan Xiaoyu to the daily economic news reporter said that the CMC's appearance for the industry is undoubtedly beneficial, but for the state-funded investors in private sector investment funds in the attempt, "to form a model, still need time to observe, But it is also the inevitable process of promoting the overall marketization of media industry. ”

At the same time, she believes that the start-up of the Fund for SMG in the diversification of investment in the promotion will also have a greater effect. This year, SMG movements, including its hundred-vision and other new media business integration, Oriental shopping analog channel on the line, and even in the field of performing arts "Shanghai Circus City Time Travel" revision upgrade, showing a high investment enthusiasm for expansion.

In this regard, Li to the daily economic news reporter, CMC for SMG, will be very important investment and financing and operating platform.

This from SMG to the CMC's participation in the caliber of the changes can also be discerned.

Previously, SMG's message to CMC has been quite low-key, emphasizing its independent operational characteristics; Now, SMG said, will operate its own rich media operating experience and resources, "in the Fund's project screening, post management and so on to play an important role." Li also confessed to the daily economic news that SMG's future involvement with CMC would be higher than before.