Prairie Assets and Great Sports establish a sports industry fund

Prairie Assets has set up Xingyuan Sports Industry Fund recently, with Great Sports acting as the investment adviser to the Fund.

The Fund will focus on fields such as sports content, production, marketing and training, with the goal of combining sports investment and business expansion in a sustainable way. According to media reports, the pair has also established a management team for the Fund, all of them being experienced experts from Great Sports, Hupu, Nike and other institutions.

Founded in 2015, Shanghai-based Prairie Assets has an investment interest in culture and media, the sports industry and next-generation information technology, including AI, manless driving and AR/VR.

In December 2017, the parent company of Great Sports, Shanghai Media Group (SMG), joined forces with Shanghai Jiushi Group, one of the leading companies in the sports industry in Shanghai. 

Along with their partnership, two Jiushi subsidiaries have invested in Great Sports, making Jiushi Group the second-largest shareholder of SMG’s sports channel.

Source: Sohu

Proofread by William Logsdon