China Digital, Tongda Venture to co-invest in digital TV
DetailsRebecca Hawkes | 01 June 2015
Technology company China Digital TV and Shanghai Tongda Venture Capital, are to invest CNY100 million and CNY200 million respectively in a fund for digital television and radio opportunities.
The companies will become limited partners in the venture, while fund management company Shoutai Jinxin will be the general partner.
China Digital TV provides cloud-based application platforms and claims to be China's leading provider of conditional access systems for the Asian country's digital cable TV market.
"As our asset restructuring with Tongda moves forward, we are pleased to also co-invest with them in this fund and support opportunities in the exciting emerging frontier of digital TV solutions," said Dr Zengxiang Lu, China Digital TV's acting chief executive officer.
"Furthermore, we believe the success of the fund will help to promote the business development of both our company and Tongda Venture going forward."