China Digital TV Holding Co., Ltd. (NYSE: STV) and Shanghai Tongda Venture Capital Co. (SSE: 600647) will co-invest in a fund which will invest in China’s digital TV industry opportunities.
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.
Founded in 2004, China Digital TV enables television network operators to manage, extend and diversify content services across households and public areas in China.
It provides cloud-based application platforms and network broadcasting platform services to Chinese cable operators to bring mobile gaming apps and other entertainment options to household television sets, and extend cable programming outside the home to any mobile device.