BEIJING (dpa-AFX) - China Digital TV Holding Co., Ltd. (STV) and Shanghai Tongda Venture Capital Co., Ltd., a company listed on the Shanghai Stock Exchange to which the Company will sell a portion of its assets to in an ongoing transaction, announced that they will co-invest in a fund which will invest in opportunities that are leading in the transformation of China's digital TV industry.
Initially, China Digital TV and Tongda will invest RMB100 million and RMB200 million in the fund, respectively, as limited partners. Shoutai Jinxin, a fund management company, will be the general partner. The fund aims to raise approximately RMB3 billion.
China Digital TV will work closely with the general partner and leverage its rich experience in the digital television industry to contribute to the success of the fund.
Copyright RTT News/dpa-AFX