Chinese media mogul Wu seeks $500m for new fund

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china lantern_sqChinese billionaire media mogul Bruno Wu has decided to launch a $500m private equity fund targeting small to medium sized businesses in the internet, digital-media and e-commerce sectors.

The fund will focus on companies that are looking to expand into Asia, especially China, Wu told the Wall Street Journal.

He also said that the $800m Harvest Seven Stars Media Private Equity fund raised last year is now fully invested.

Deal activity in the Chinese media sector has been picking up momentum with over 300 deals worth $10.3bn done since 2009, according to Dealogic.

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