Letv Sports raised 800m yuan in A and A+ round

‍‍Letv Sports held a news conference in Beijing yesterday afternoon, officially announcing the result of A and A+ round of fund raising. In the A and A+ round, it has raised 800 million yuan totally. Now it is valued at 2.8 billion yuan. 

In A round, Wanda Group led the investment. In A+ round, YF Capital, which was controlled by Ma Yun, led the investment, and seven other organizations and individuals including Prometheus Capital and Fortune Link, participated in the round. 

Letv Holdings now holds 38.97 percent Letv Sports. Leshi Internet holds 10.63 percent. Core managing staffs of Letv sports holds 21.26 percent in total. Wanda Group and Prometheus Capital hold 11.49 percent together. YF Capital holds 7.82 percent. Fortune Link and its associated parties hold 6.34 percent. Others hold 3.49 percent. 

Wang Jianlin and Ma Yun have both been involved in this investment now. 

According to media reports, Jia Yueting said that Letv would complete B round of fund raising in the fourth quarter of this year. 

At this press conference, CEO of Letv Sports, Lei Zhenjian, said that they would use the money of this round to do three things. The first thing is to continue to buy more rights of events. The second and the third are to continue to build and improve its sports viewing system and sports ecosystem.