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 start-up, named Haiqiu Technology, aims to capitalize on high quality sports content by leveraging sports celebrities and the Internet.
One of Haiqiu's products is an online short video platform, aggregating user generated content from over 1,000 sports veterans. It has over half million registered users so far.
Sun has also launched an online football talk show named after himself. The company plans to create more content backed by other sports celebrities, including former Olympics champions and veteran sports players.
"Sun is one of China's most accomplished football players," said Li Ruigang, chairman of CMC Capital, previously known as China Media Capital. "We admire his contacts, vision and execution, and are optimistic about the future of short sports videos."
CMC has previously invested in different segment of the sports sector, including sport event management firm Ti'ao Power, sportswear firm Meike International, sports marketing firm SECA, and sports data firm Cubee Technology.
It also acquired stakes in City Football Group, the owner of football related clubs and businesses including Manchester City, New York City, Melbourne Citysports agencies and others.