CMC, Sequoia launch sport fund, back China kickboxing business
CMC Holdings – a unit of media-focused GP CMC Capital Partners – and Sequoia Capital China have formed a sports investment fund and led a Series A round of funding for Wanmingyang Media, which organizes and video streams kickboxing events in China.
The fund will target global sports assets, leveraging the huge appetite for media properties – ranging from sport to movies – among Chinese investors. This is in turn a function of growing consumer...
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