CMC Capital has led an angel round in a sports content start-up founded by Chinese football celebrity Sun Jihai (pictured), who previously played for the Chinese Super League and the Manchester City football club in the English Premier League.
Tencent Holdings Ltd. and Yuanxun Investment, a sports-focused vehicle co-founded by CMC Capital, also participated in the round.
The parties did not disclose financial details of the investment, but said it was around tens of millions RMB.
"It takes time to build a sports brand, unlike in the entertainment sector where one can achieve instant celebrity," Sun said at a conference in Beijing during the weekend. "Sports can also be integrated with other sectors, including travel."
The ten-month-old sta...
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