Natural mineral water brand Alps sign three-year partnership with BWF
21 Aug 2019 20:30
September 28: Shaanxi-based mobile eSports developer Hero Entertainment has raised 1.7 billion RMB Pre-IPO financing, led by a China State-owned Venture Capital Fund, and co-invested by Shaanxi Culture Industry Investment Group and Gopher Asset Management.
Founded in June 2015, the eSports developer’s primary business is development and management of eSports games and promotion of mobile eSports competitions. The company developed Crisis Action, one of the most popular first-person shooter (FPS) games in China, along with many other mobile games.
The company’s founding investors are three of China’s largest venture capital companies, Sequoia Capital, ZhenFund and Huasheng Capital. In the year 2016, Huayi Brothers announced a 20 percent stake in Hero for US $288 Million, making it the company’s second largest shareholder.
According to its first half report for 2017, Hero has generated RMB 562 million, reflecting a 48.77 percent growth. Net profit attributable to shareholders of the parent company is about RMB 293 million, an increase of 30.35 percent.
Source: Sina
Proofread by William Logsdon
Related coverage
China Digital, Jay Chou to set up e-sport gaming company
18 Feb 2016
Chinese or American group granted exclusivity by Aston Villa
10 Jun 2015
Deng Yaping Aims to Raise 5 Billion Sports Industry Funds
01 Nov 2016
Focus Media invests $81m in esports startup
05 Aug 2016
Shanghai Oriental Pearl plans €18M for Infront’s shares
16 Jul 2015
More from Yutang Sports
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023
VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023
SportAccord announces first speakers - World Sport & Business Summit 2024
06 Dec 2023
France’s Golden Decade of Sport
14 Jun 2023
SportAccord Summit 2024 Logo Unveiled
29 Nov 2023
Yutang Sports
loading...