China's first 2-billion sports investment fund launched

The Arena Capital, a joint venture established by by K-bird, HUPU and Greenwoods investment, was officially launched in Beijing yesterday, marking China’s first ever 2-billion investment fund in sports industry.

The fund will get an early investment of 1 billion yuan from K-bird, a Chinese sportswear brand, which has shown its ambition in sports business by establishing ventures to exploit the business of campus sports in China.

Lin Tianfu, the president of K-bird and his senior consultant have updated the brand’s strategy from a sportswear provider to a comprehensive sports industry player at the press conference.

And HUPU’s CEO Cheng Hang reveals the investment strategy, which is “Sports+ Internet+ Technology”, of The Capital Arena. More specifically, the fund will cover a range of sports-related sectors including Internet+ Sports, sports O2O (online to offline), intelligent sports equipment, sports training, stadium-related services, sports events and sports media etc.

There are as many as 12 companies that have reached agreements with The Capital Arena on investment deals.

Source: Xinhua