Chinese Online plans to participate in the establishment of a venture capital fund with 15 million yuan

An announcement was issued stating that it plans to participate in the investment and establishment of Qingdao Zhengqin Kangda Venture Capital Fund Partnership (limited partnership)(subject to the name approved by the Administration for Industry and Commerce, hereinafter referred to as "Qingdao Zhengqin"). As a limited partner, Chinese Online will subscribe for a capital contribution of 15 million yuan.

On December 6, a Chinese online announcement stated that it plans to participate in the investment and establishment of Qingdao Zhengqin Kangda Venture Capital Fund Partnership (limited partnership)(subject to the name approved by the Administration for Industry and Commerce, hereinafter referred to as "Qingdao Zhengqin"). As a limited partner, Chinese Online will subscribe for a capital contribution of 15 million yuan.

The announcement shows that Qingdao Zhengqin plans to raise a total of 153 million yuan, with a duration of 7 years. The investment direction is TMT growth-stage companies, focusing on online education, IP and derivatives, corporate services, artificial intelligence and other fields, and will increase capital through subscription or use equity transfer to make equity investment in the invested enterprise to obtain a corresponding proportion of equity interests in the invested enterprise.

At present, Chinese Online has formed two major strategies: "Literature +" and "Education +", and has gradually built pan-entertainment through accumulated IP, as well as acquiring companies in related fields or establishing strategic cooperative relationships with other companies. Regarding this investment, Chinese Online stated that the proposed investment area of Qingdao Zhengqin, which participated in the investment and establishment, has a high degree of compatibility with the main business of Chinese Online and is in line with the company's development strategy. This investment relies on the strength and strategic resources of professional institutions, the integration of general partners 'rich investment management and operation management experience, the financial advantages of limited partners, and the policy support of government-guided funds. Through the improvement of the value of the invested enterprises, it is expected to be able to obtain investment capital appreciation.

Editor: yvette