Tencent

Founded in 1998, Tencent is a leading global technology company based in China. It operates the world's largest game publishing business and owns WeChat, one of the most widely used messaging apps globally with over 1 billion users. The company offers a range of services including social networking, gaming, fintech, cloud computing, online advertising, and digital content.

Hongwei Chen

Executive Director of Investment

Kyle Kurpinski

Investor

Martin Lau

President

Jeffrey Li

Managing Partner

Lin Haifeng

General Manager, M&A

Alvin Liu

Co-Founder

Steven Ma

SVP

Danying Ma

Managing Director

Huateng Ma

Co-Founder, Chairman and CEO

James Mitchell

Chief Strategy Officer

phil mu

Chief Investment Officer

Dowson Tong

President of Social Network Group, Senior Executive Vice President

Ye Wang

Associate Director, Global Data Intelligence and Data Service, IEG

Bo Wang

Vice President, Tencent Games

Xiaoguang Wu

Senior Executive Vice President and CEO

Yao Xia

Executive Director

Levin Yao

Managing Director, Tencent Investment

Wenlei Zhuang

Vice President of Tencent Cloud and Head of Tencent Cloud Strategic Investment

Past deals in Entertainment

Remedy Entertainment

Post in 2024
Founded in Finland in 1995, Remedy Entertainment is a game development company focused on creating leading action games. Known for innovative ideas, high-quality content, and state-of-the-art technology, the company's titles include Death Rally, Max Payne, and others, published by partners like Rockstar Games and Smilegate.

Remedy Entertainment

Post in 2024
Founded in Finland in 1995, Remedy Entertainment is a game development company focused on creating leading action games. Known for innovative ideas, high-quality content, and state-of-the-art technology, the company's titles include Death Rally, Max Payne, and others, published by partners like Rockstar Games and Smilegate.

Pocket FM

Series D in 2024
Pocket FM, established in 2018 and based in Bengaluru, India, operates a web-based mobile application offering a vernacular audio sharing platform. It provides users access to a wide range of audio content, including news, finance, stories, and entertainment, in local Indian languages and English. The platform specializes in long-form audio entertainment, with a focus on diverse and engaging content across various genres such as fantasy, science fiction, romance, horror, and thriller. It enables users to share and listen to audios, fostering direct communication with creators worldwide, including podcasts.

Wuhan Cuntian Film and Television Culture

Venture Round in 2023
Wuhan Cuntian Film and Television Culture Co., is a film and television producer, focusing on the field of entertainment services, mainly engaged in the production.

Quell

Series A in 2023
Quell, Inc., founded in 2020 and based in San Francisco, California, specializes in developing an immersive fitness game that combines exercise with interactive gameplay. The company's product includes a low-cost wearable device featuring smart resistance bands, which guides users through engaging combat workouts at home. Quell's unique approach to fitness allows players to achieve their fitness goals while enjoying an intense workout within a virtual fantasy world. The startup charges a monthly fee to provide fresh content, positioning itself as a blend of Peloton and gaming experiences.

Don'tNod Entertainment

Post in 2023
Don'tNone Entertainment develops and publishes relevant video games by combining engaging storytelling with gameplay to produce stories that have an impact on players. While telling engaging and genuine stories, they aim to create universal experiences that anybody can relate to. Each game they produce is an original work that has something fresh to offer to its player base. The company's mission is to create meaningful and immersive stories that resonate with players and make an impact and link this powerful storytelling with innovative gameplay.

Kukua

Series A in 2022
Kukua is an edutainment company founded in 2014 and based in San Francisco, California. It specializes in developing mobile game applications aimed at children aged 5 to 10, focusing on foundational skills such as reading, writing, and math. The company operates under the brand name SEMA and creates engaging learning experiences through a universe of proprietary characters. Kukua is known for its Super Sema franchise, which encompasses animated series, games, and toys designed to seamlessly blend entertainment with educational value. By utilizing smartphones and electronic devices, Kukua strives to empower children to dream, imagine, and learn through interactive cartoons, music, and digital experiences.

1C Entertainment

Acquisition in 2022
1C Entertainment operates in the segments of production of video games, specialized services for third-party publishers and independent development studios

Inflexion Games

Acquisition in 2022
Inflexion Games is a game development and publishing company based in Edmonton, Canada. The studio specializes in creating online video games set in Victorian fantasy worlds, focusing on adventure and mystery themes.

Byment

Venture Round in 2021
Baiman Culture Communication Co., Ltd. is an Internet-based cultural enterprise focused on the development and production of online animation, comics, and games. The company specializes in network animation and IP incubation, offering services that encompass long and short comic script development, drawing creation, and full platform publishing for Internet comics. Its professional team is well-equipped for the entire production process of animated content, including script development and directing. By leveraging its original content capabilities, Baiman aims to deliver high-quality online anime, comics, and games, enhancing the user experience in the digital entertainment space.

Wake Up Interactive

Acquisition in 2021
Wake Up Interactive is a digital entertainment developer focused on creating high-quality content designed to bring joy to audiences worldwide. The company specializes in the development of games for various platforms, including home video game consoles, PCs, and smartphones. By leveraging innovative design and engaging narratives, Wake Up Interactive aims to enhance the digital entertainment experience for users across different devices.

Xiaohongshu

Series E in 2021
Xiaohongshu, founded in 2013 and based in Shanghai, China, is a lifestyle sharing platform that allows users to share experiences through text, images, and videos. Initially aimed at assisting overseas travelers with shopping, it has transformed into a vibrant community focused on various lifestyle areas, including cosmetics, fashion, food, travel, entertainment, reading, fitness, and childcare. The platform serves as a social e-commerce space where users can post their favorite products, share shopping experiences, and discover global merchandise, particularly in luxury and beauty sectors. By fostering user-generated content, Xiaohongshu encourages a collaborative environment for lifestyle enthusiasts to exchange insights and recommendations.

Kadokawa

Post in 2021
Kadokawa Corporation, established in 1945 and headquartered in Tokyo, Japan, operates as a comprehensive entertainment company. It engages primarily in publishing, film production, and digital content businesses, including animation, videos, games, rights, merchandising, and network entertainment services. The company also runs a video-sharing website and offers products and services tailored for global intellectual property expansion and digital transformation.

Kuaikan Manhua

Series F in 2021
Kuaikan Manhua is an online and mobile platform for original online comic artwork targeting young readers. Founded in 2014, Kuaikan Manhua is a comic-reading platform and community of interest that is popular among users. As of January 2019, the total number of users of the comics app is over 170 million, and the monthly users are over 40 million, and the market share in the comics market is more than half*. Kuaikan World’s vision is to build an ideal ecosystem of cultural-entertainment in the future, as well as bring happiness to the world. Kuaikan aims to help comic creators to create more widely-popular comics with positive, energetic and warm contents to millions of users.

Gaana

Debt Financing in 2021
Gaana is an Indian music streaming application headquartered in Noida, India, and is recognized as the largest music broadcasting service in the country. Launched in 2011, Gaana provides users with free, unlimited access to a diverse range of music, including popular Bollywood tracks, Hindi songs, regional music, and international hits. The platform aims to enhance the music discovery and consumption experience for its users by offering a wide array of content through its mobile apps and website. Gaana also features Radio Mirchi, allowing listeners to enjoy curated music according to their preferences.

YAGER

Acquisition in 2021
YAGER is an independent developer specializing in computer and video games. The company is dedicated to creating immersive and engaging gaming experiences, primarily focusing on imaginative story-driven third-person games. YAGER's titles are designed for platforms such as PlayStation 4, Xbox One, and PC, utilizing the Unreal Engine 4 to enhance gameplay quality. By emphasizing creativity and narrative depth, YAGER aims to resonate with gaming enthusiasts and provide them with meaningful interactions in their gaming journeys.

Bad Robot Games

Series B in 2021
Bad Robot Games, founded by filmmaker J.J. Abrams, focuses on storytelling and world-building through the medium of games. The company leverages the expertise of industry veterans from both the gaming and entertainment sectors, creating immersive experiences that blend interactive gameplay with cinematic narratives. Bad Robot Games aims to unite diverse artistic perspectives to develop expansive worlds that engage audiences across various platforms, including gaming, animation, and motion films. With a commitment to innovation and creativity, the company aspires to deliver experiences that are enjoyable to both play and watch. Based in Santa Monica, Bad Robot Games is part of the broader Bad Robot brand, known for its successful television and film projects.

Pex

Series A in 2021
Pex is a company that specializes in digital rights technology, focusing on providing transparency and accuracy in the licensing and management of content. Its advanced technology operates with remarkable speed and scale, allowing for efficient transactions that simplify global licensing processes. This empowers digital platforms to make real-time decisions regarding content usage, while also enabling creators to use copyrighted material without concerns of infringement. Additionally, Pex ensures that rightsholders receive proper credit and compensation for their work. The company is committed to building inclusive and equitable solutions that address the complexities of digital rights management.

Don'tNod Entertainment

Post in 2021
Don'tNone Entertainment develops and publishes relevant video games by combining engaging storytelling with gameplay to produce stories that have an impact on players. While telling engaging and genuine stories, they aim to create universal experiences that anybody can relate to. Each game they produce is an original work that has something fresh to offer to its player base. The company's mission is to create meaningful and immersive stories that resonate with players and make an impact and link this powerful storytelling with innovative gameplay.

Klei Entertainment

Acquisition in 2021
Klei Entertainment is a video game development studio located in Vancouver, British Columbia. The company specializes in creating and publishing a diverse range of games across various platforms, encompassing both single-player and multiplayer experiences. Klei is driven by a passion for developing games that resonate with their creative vision, resulting in unique and engaging titles. Their portfolio includes innovative puzzle games and reimagined classic genres, reflecting their commitment to crafting memorable gameplay experiences that evoke nostalgia. Through the talent and creativity of its team, Klei Entertainment aims to deliver games that captivate players and stand out in the competitive gaming landscape.

Universal Music Group

Secondary Market in 2020
Universal Music Group is the world's largest music company, offering services in music recording, publishing, merchandising, and distribution. It discovers, develops, and promotes songwriters and artists globally, owning copyrights to musical compositions for various uses.

Quell

Seed Round in 2020
Quell, Inc., founded in 2020 and based in San Francisco, California, specializes in developing an immersive fitness game that combines exercise with interactive gameplay. The company's product includes a low-cost wearable device featuring smart resistance bands, which guides users through engaging combat workouts at home. Quell's unique approach to fitness allows players to achieve their fitness goals while enjoying an intense workout within a virtual fantasy world. The startup charges a monthly fee to provide fresh content, positioning itself as a blend of Peloton and gaming experiences.

Lockwood Publishing

Series A in 2020
Lockwood Publishing Limited is a Nottingham-based company that develops and publishes social and mobile games. Founded in 2007, it specializes in creating immersive entertainment software for various platforms, including PlayStation, iOS, Google Play, Amazon, and the web. The company's flagship product, Vakin Life, is a 3D virtual world that allows users to create avatars, customize their apartments, and engage with a large online community. Co-founded by Halli Bjornsson and Joel Kemp in 2009, Lockwood Publishing has established itself in the gaming industry by focusing on cross-platform experiences that foster social interaction among players.

VSPN

Series B in 2020
VSPN is an internet sports and cultural media company that focuses its business on e-sports. It provides core marketing and entertainment content operations as its core business, providing brand marketing, artist brokerage, e-sports TV, and e-sports venues. Founded in 2015, Quantum Sports VSPN (Versus Programming Network) and is based in Shanghai, China.

Pocket FM

Series A in 2020
Pocket FM, established in 2018 and based in Bengaluru, India, operates a web-based mobile application offering a vernacular audio sharing platform. It provides users access to a wide range of audio content, including news, finance, stories, and entertainment, in local Indian languages and English. The platform specializes in long-form audio entertainment, with a focus on diverse and engaging content across various genres such as fantasy, science fiction, romance, horror, and thriller. It enables users to share and listen to audios, fostering direct communication with creators worldwide, including podcasts.

Gaana

Debt Financing in 2020
Gaana is an Indian music streaming application headquartered in Noida, India, and is recognized as the largest music broadcasting service in the country. Launched in 2011, Gaana provides users with free, unlimited access to a diverse range of music, including popular Bollywood tracks, Hindi songs, regional music, and international hits. The platform aims to enhance the music discovery and consumption experience for its users by offering a wide array of content through its mobile apps and website. Gaana also features Radio Mirchi, allowing listeners to enjoy curated music according to their preferences.

Voodoo

Venture Round in 2020
Voodoo is a technology company focused on developing and publishing mobile games and applications, primarily targeting casual gamers. With over 7 billion downloads and more than 150 million monthly active users, it ranks as the third-largest mobile publisher globally in terms of downloads. Voodoo is recognized for its rapid growth within the gaming ecosystem, having secured over $1 billion in funding from prominent investors such as Goldman Sachs and Tencent. The company employs a workforce of over 750 individuals worldwide and collaborates with external studios and content creators to produce hyper-casual games that are simple, engaging, and designed to connect users.

iflix

Acquisition in 2020
iFlix Sdn Bhd is a digital entertainment service provider based in Kuala Lumpur, Malaysia, founded in 2014. The company caters to consumers in various countries including Malaysia, the Philippines, Thailand, Indonesia, and several others across the Middle East and North Africa. iFlix offers a comprehensive library of content, including TV shows, movies, hyperlocal originals, live sports, and news, allowing users to stream or download their preferred entertainment. The service features a diverse range of genres, including comedy, drama, K-drama, Turkish drama, Bollywood, and Nollywood, sourced from Hollywood, the UK, Asia, the Middle East, and Africa. Subscribers benefit from unlimited access to this extensive content library for a low monthly fee, enabling them to watch on multiple devices such as mobile phones, laptops, tablets, and televisions, thereby enhancing accessibility and convenience. As of June 2020, iFlix operates as a subsidiary of Tencent Holdings Limited.

Marvelous

Post in 2020
Marvelous Inc. is a Japanese entertainment company headquartered in Tokyo, specializing in the planning, development, and production of a diverse range of content. Founded in 1997, Marvelous engages in the creation and operation of online games for various platforms, including App stores and PCs, as well as the development of home video game software. The company also produces amusement machines and creates audio-visual content, including music and videos, often centered around animation. Additionally, Marvelous is involved in theatrical entertainment, planning and producing stage works and musicals inspired by its gaming and animation properties. Through its various segments, Marvelous aims to cater to market needs and enhance the entertainment experience for its audience.

Huya.com

Post in 2020
Huya Inc. operates a leading game live streaming platform in China, facilitating interactive broadcasts that allow real-time interaction between broadcasters and viewers. Founded in 2011 and headquartered in Guangzhou, Huya provides a diverse array of live streaming content, encompassing a vast library of approximately 3,800 games across various genres, including esports, mobile, and console games, as well as entertainment categories like talent shows and online theater. Additionally, Huya runs Nimo TV, which focuses on game streaming in Southeast Asia and Latin America. The company also engages in online advertising, marketing services, software development, and internet value-added services. As a subsidiary of Tencent, Huya benefits from the support of one of the largest technology companies in China, with Tencent holding a significant equity stake and voting power.

Roblox

Series G in 2020
Roblox is an online gaming and entertainment platform that fosters virtual interactions and shared experiences among users. Founded in 2004 by David Baszucki and Erik Cassel, it is headquartered in San Mateo, California. The platform allows users to create and explore immersive 3D environments, enabling them to play, learn, and socialize. It is particularly popular among audiences under the age of 18, ranking as one of the top entertainment destinations for this demographic based on engagement metrics. The vast array of interactive experiences is developed by a global community of creators utilizing Roblox Studio, a desktop design tool provided by the platform. Roblox's growth is largely driven by word-of-mouth, with millions of new users joining each month, highlighting the strong community aspect of the platform.

YAGER

Funding Round in 2020
YAGER is an independent developer specializing in computer and video games. The company is dedicated to creating immersive and engaging gaming experiences, primarily focusing on imaginative story-driven third-person games. YAGER's titles are designed for platforms such as PlayStation 4, Xbox One, and PC, utilizing the Unreal Engine 4 to enhance gameplay quality. By emphasizing creativity and narrative depth, YAGER aims to resonate with gaming enthusiasts and provide them with meaningful interactions in their gaming journeys.

Universal Music Group

Venture Round in 2020
Universal Music Group is the world's largest music company, offering services in music recording, publishing, merchandising, and distribution. It discovers, develops, and promotes songwriters and artists globally, owning copyrights to musical compositions for various uses.

MX Player

Series A in 2019
MX Player is a prominent video playback application based in Mumbai, India, developed by J2 Interactive. It supports advanced hardware acceleration, multi-core decoding, and subtitles, ensuring high-quality playback and efficient file sizes. Initially known for its robust offline video viewing capabilities, MX Player has evolved into a significant over-the-top (OTT) platform, offering a diverse range of content including movies, TV shows, web series, and news. With an extensive user base exceeding 500 million globally, of which over 350 million are in India, MX Player has established itself as the largest local video platform in the world. Since 2012, it has consistently ranked among the top ten Android applications, reflecting its popularity and user engagement.

Funcom

Post in 2019
Funcom is a video game development company based in Oslo, Norway, with additional offices in the United States, China, Switzerland, and Canada. The company specializes in creating and publishing massively multiplayer online games, including popular titles such as Age of Conan, Anarchy Online, and The Secret World. In addition to its online offerings, Funcom also develops offline games like The Park, Hide and Shriek, Dreamfall, and The Longest Journey. By providing a diverse range of gaming experiences across multiple platforms, Funcom aims to engage players with various genres and live gaming experiences.

Crossingstar Studio

Series A in 2019
Crossingstar Studio, founded in 2016 and based in Hangzhou, China, specializes in the production of comics and the development and publication of mobile games. The company collaborates with authors and game designers to transform their creative concepts into fully realized works, which are subsequently hosted on various external platforms. In addition to producing in-house comic content, Crossingstar Studio is dedicated to fostering a supportive and collaborative work environment, offering employees a range of benefits that enhance their overall experience.

Kuaikan Manhua

Corporate Round in 2019
Kuaikan Manhua is an online and mobile platform for original online comic artwork targeting young readers. Founded in 2014, Kuaikan Manhua is a comic-reading platform and community of interest that is popular among users. As of January 2019, the total number of users of the comics app is over 170 million, and the monthly users are over 40 million, and the market share in the comics market is more than half*. Kuaikan World’s vision is to build an ideal ecosystem of cultural-entertainment in the future, as well as bring happiness to the world. Kuaikan aims to help comic creators to create more widely-popular comics with positive, energetic and warm contents to millions of users.

Fen-z Interactive

Series A in 2019
Fen-z Interactive is a comprehensive media company with a pan-quaternary IP incubator development as its core. Its business includes comics IP incubation, content marketing, animation production, and derivative development. Targeting the secondary group, "Molecular Interaction" emphasizes advertising marketing and content production, and positioning "a new form of communication organization that uses social thinking to achieve integrated communication for young people."

AntStream Arcade

Series A in 2019
Antstream Ltd, established in 2013 and based in Heathfield, United Kingdom, operates Antstream Arcade, a subscription-based game streaming platform specializing in retro games. The service offers access to over 1,000 classic arcade, console, and computer games, allowing players to enjoy them in their original form or with modern adaptations, including unique social challenges. Users can compete in global tournaments and climb leaderboards, earning gems and recognition as they engage with the platform. Antstream Arcade is designed to be accessible across multiple devices, providing a versatile gaming experience for enthusiasts of vintage video games.

Xuniyingye

Angel Round in 2019
Xuniyingye is an animation IP operation and avatar incubation service provider. It is dedicated to designing avatars for animated dubbing actors. They will appear in different animated film and television works with different identities, names and costumes, and will be liked and remembered by the audience. Become a star and grow into an IP. Its product content mainly includes three aspects: 3D animation network big movie, cinema animation and virtual actors.

Byment

Series A in 2019
Baiman Culture Communication Co., Ltd. is an Internet-based cultural enterprise focused on the development and production of online animation, comics, and games. The company specializes in network animation and IP incubation, offering services that encompass long and short comic script development, drawing creation, and full platform publishing for Internet comics. Its professional team is well-equipped for the entire production process of animated content, including script development and directing. By leveraging its original content capabilities, Baiman aims to deliver high-quality online anime, comics, and games, enhancing the user experience in the digital entertainment space.

Wind Fish

Series A in 2019
Established in Mar 2016, Windfish is an IP centric entertainment production company. It has successfully produced a series of heart-warming short-video stories “Call Me Zombie Little Fish”, featuring a distinctively cute zombie boy, his adoptive Papa, and other friends

Crossingstar Studio

Series A in 2018
Crossingstar Studio, founded in 2016 and based in Hangzhou, China, specializes in the production of comics and the development and publication of mobile games. The company collaborates with authors and game designers to transform their creative concepts into fully realized works, which are subsequently hosted on various external platforms. In addition to producing in-house comic content, Crossingstar Studio is dedicated to fostering a supportive and collaborative work environment, offering employees a range of benefits that enhance their overall experience.

Zhonglan Media

Series A in 2018
Zhonglan Media is a media and entertainment company that specializes in documentary film production. It focuses on creating large-scale documentaries and short videos, offering a comprehensive range of services that includes planning, shooting, and production. The company is also involved in producing virtual reality content, such as VR short videos and VR panoramic recordings, which enhance the viewer's experience by delivering high-quality visual content. Through its innovative approach and commitment to excellence, Zhonglan Media aims to engage audiences with compelling storytelling and immersive media experiences.

Bilibili

Post in 2018
Bilibili is a Chinese online entertainment platform that provides high-quality content and an immersive experience. Initially focused on anime, comics, and gaming for Generation Z users, it has since expanded its offerings to cater to a broader audience.

DreamCraft

Seed Round in 2018
DreamCraft Entertainment Inc. is a game creation and monetization platform founded in 2018 and based in San Mateo, California. The company provides a user-friendly platform that enables video game modders to create, publish, and monetize games without the need for programming skills. By offering a no-code environment, DreamCraft equips users with tools to design, modify, and host their own games, facilitating a seamless experience for both creators and players across PC and mobile platforms. This approach empowers individuals to turn their gaming ideas into reality and potentially generate income from their creations.

Chaodian Culture

Angel Round in 2018
Chaodian Culture operates as a provider of content creation services, specializing in the development of cultural products and animation derivatives. The company is also involved in planning and organizing events, including flagship concerts and various exhibitions, which allow companies to showcase a range of cultural products and other content. By facilitating these platforms, Chaodian Culture enables content creators to effectively present their work to a broader audience.

NewsDog

Series C in 2018
NewsDog is a news and entertainment content aggregator that operates a platform called WeMedia, allowing users to submit stories and engage with a community of over 30,000 regular contributors. The company's platform is designed to serve both Indian and overseas markets, facilitating self-media authors and professional content creators in showcasing their work. By employing machine learning technology, NewsDog aggregates personalized news, enabling users to efficiently access updated information. The company competes with other prominent players in the field, including Dailyhunt, Inshorts, and NewsPoint.

Shanghai Canxing Cultural and Broadcast Company

Series B in 2018
Shanghai Canxing Cultural and Broadcast Company, which does business as Starry Production, produces television programs in China. Shanghai Canxing Cultural and Broadcast Company is headquartered in China. The company operates as a subsidiary of Star (China) Ltd.

CMC

Series A in 2018
CMC Inc. is a Chinese state-backed media and entertainment conglomerate established in 2010. The company specializes in producing a diverse range of content across multiple genres, including film, drama, financial media, music, and sports. CMC's broad portfolio reflects its commitment to cultural and creative industries, positioning it as a significant player in the Chinese media landscape. With a focus on innovation and quality, CMC Inc. aims to leverage its resources to enhance the development of the entertainment sector in China and beyond.

Xiaohongshu

Series D in 2018
Xiaohongshu, founded in 2013 and based in Shanghai, China, is a lifestyle sharing platform that allows users to share experiences through text, images, and videos. Initially aimed at assisting overseas travelers with shopping, it has transformed into a vibrant community focused on various lifestyle areas, including cosmetics, fashion, food, travel, entertainment, reading, fitness, and childcare. The platform serves as a social e-commerce space where users can post their favorite products, share shopping experiences, and discover global merchandise, particularly in luxury and beauty sectors. By fostering user-generated content, Xiaohongshu encourages a collaborative environment for lifestyle enthusiasts to exchange insights and recommendations.

NewsDog

Series C in 2018
NewsDog is a news and entertainment content aggregator that operates a platform called WeMedia, allowing users to submit stories and engage with a community of over 30,000 regular contributors. The company's platform is designed to serve both Indian and overseas markets, facilitating self-media authors and professional content creators in showcasing their work. By employing machine learning technology, NewsDog aggregates personalized news, enabling users to efficiently access updated information. The company competes with other prominent players in the field, including Dailyhunt, Inshorts, and NewsPoint.

VSPN

Corporate Round in 2018
VSPN is an internet sports and cultural media company that focuses its business on e-sports. It provides core marketing and entertainment content operations as its core business, providing brand marketing, artist brokerage, e-sports TV, and e-sports venues. Founded in 2015, Quantum Sports VSPN (Versus Programming Network) and is based in Shanghai, China.

L2Studio

Series B in 2018
L2Studio is an animation studio.

Ubisoft Entertainment

Post in 2018
Ubisoft Entertainment develops and publishes high-quality video games for consoles, PCs, and mobile devices worldwide. Its major franchises include Assassin's Creed, Rainbow Six, Far Cry, Just Dance, The Crew, and Skull & Bones.

Qutoutiao

Series B in 2018
Founded in 2016, Qutoutiao operates as a mobile platform for distributing, consuming, and sharing light entertainment content in China. Its flagship product is Qutoutiao, a mobile application that aggregates articles and videos from various sources and presents real-time customized feeds to users based on their profiles and behavior using AI-powered recommendation engines.

Linmon Pictures

Series C in 2018
Linmon Pictures is an independent entertainment studio that creates, produces, and distributes original content. The studio specializes in drama series and has a strong track record of producing high‑viewership shows in Mainland China, drawing on a substantial library of original intellectual property. Its operations focus on delivering premium content to Chinese audiences, generating the majority of its revenue from that market.

Douyu TV

Series E in 2018
Douyu International Holdings Limited operates a live streaming platform based in Wuhan, China, focusing primarily on interactive gaming and entertainment content. Founded in 2014, the platform connects various stakeholders, including game developers, professional eSports teams, advertisers, and viewers. Douyu TV features a wide range of live streaming options, encompassing not only video games but also sports, variety shows, music, and travel content. The platform enables users to submit, view, and comment on videos, while also providing features for recording and sharing clips of live broadcasts. Douyu TV plays a significant role in the eSports ecosystem by sponsoring teams and organizing tournaments, positioning itself as a key player in the live streaming and gaming sectors in China.

Huya.com

Series B in 2018
Huya Inc. operates a leading game live streaming platform in China, facilitating interactive broadcasts that allow real-time interaction between broadcasters and viewers. Founded in 2011 and headquartered in Guangzhou, Huya provides a diverse array of live streaming content, encompassing a vast library of approximately 3,800 games across various genres, including esports, mobile, and console games, as well as entertainment categories like talent shows and online theater. Additionally, Huya runs Nimo TV, which focuses on game streaming in Southeast Asia and Latin America. The company also engages in online advertising, marketing services, software development, and internet value-added services. As a subsidiary of Tencent, Huya benefits from the support of one of the largest technology companies in China, with Tencent holding a significant equity stake and voting power.

Gaana

Corporate Round in 2018
Gaana is an Indian music streaming application headquartered in Noida, India, and is recognized as the largest music broadcasting service in the country. Launched in 2011, Gaana provides users with free, unlimited access to a diverse range of music, including popular Bollywood tracks, Hindi songs, regional music, and international hits. The platform aims to enhance the music discovery and consumption experience for its users by offering a wide array of content through its mobile apps and website. Gaana also features Radio Mirchi, allowing listeners to enjoy curated music according to their preferences.

Tielinshe

Angel Round in 2018
Comic creation service provider based in Guangzhou.

Wanda Commercial Management Group

Funding Round in 2018
Dalian Wanda Commercial Management Group Co., Ltd. is a prominent player in the management and operation of commercial properties in China. Founded in 1988 and based in Beijing, the company was previously known as Dalian Wanda Commercial Properties until its name change in 2018. The company operates a significant network of Wanda Plazas, which serve as multifunctional venues for social networking, entertainment, catering, and retail, effectively creating independent business districts that act as urban centers. As of 2017, Wanda Commercial managed 235 Wanda Plazas, which attracted over 3 billion visitors and encompassed approximately 31.5 million square meters of commercial space. In addition to its retail operations, Dalian Wanda also invests in cultural tourism parks, hotels, cinemas, and other entertainment ventures, addressing a wide range of consumer needs through its diverse portfolio.

Wattpad

Venture Round in 2018
Wattpad is a digital entertainment company based in Toronto, Ontario, founded in 2006 by Allen Lau and Ivan Yuen. It operates an online social storytelling platform that connects a global community of over 65 million users who engage with original stories for more than 20 billion minutes each month. The flagship app allows users to read and write stories, fostering collaboration through comments and multimedia features. In addition to its main platform, Wattpad has developed Tap, a product offering short, chat-based stories in multiple languages. The company also includes Wattpad Studios, which collaborates with industry partners to adapt stories for film, television, digital, and print formats. Furthermore, Wattpad Brand Solutions provides advertising products aimed at engaging Millennial and Gen Z audiences.

Maoyan

Venture Round in 2017
Maoyan is a China-based company that specializes in online movie ticketing services and operates as a subsidiary of Shanghai Enlight Investment Holdings. Founded in April 2016 by Wang Xing, the company is headquartered in Beijing. Maoyan functions primarily through three segments: the Online Entertainment Ticketing Services segment, which offers ticketing for movies and various entertainment events; the Entertainment Content Services segment, which provides a platform for distribution, promotion, and production of entertainment content including movies, TV series, and variety shows; and the Advertising Services segment, which caters to advertisers looking to promote their brands across its platforms. Through these segments, Maoyan aims to enhance the entertainment experience for consumers while supporting the broader entertainment ecosystem.

Qutoutiao

Series A in 2017
Founded in 2016, Qutoutiao operates as a mobile platform for distributing, consuming, and sharing light entertainment content in China. Its flagship product is Qutoutiao, a mobile application that aggregates articles and videos from various sources and presents real-time customized feeds to users based on their profiles and behavior using AI-powered recommendation engines.

Shanghai Youhug Media

Corporate Round in 2017
Shanghai Youhug Media is a media and entertainment management company based in Shanghai, founded in 2012. The company specializes in the production and distribution of television content and films, focusing on the creation and performance of film and television dramas. Through its diverse offerings, Shanghai Youhug Media aims to provide audiences with immersive and engaging motion picture experiences.

TRCARTOON

Series A in 2017
TRCARTOON is an animation and comics studio that engages in comic and animation production.

Frontier Developments

Post in 2017
Frontier Developments is a video game developer founded in 1994 by David Braben. It creates immersive, high‑quality interactive entertainment using its Cobra cross‑platform technology and standard tools to build and publish games across PC and major consoles, through both self‑published titles and long‑standing publisher partnerships. The company emphasizes strong gameplay design, artistic quality and technical execution to suit evolving hardware and user interfaces. Its catalog includes RollerCoaster Tycoon 3, LostWinds, Kinectimals, Kinect Disneyland Adventures and Coaster Crazy. Based in the United Kingdom with a North American presence, Frontier employs around two hundred people and maintains a global development footprint to bring ambitious projects to market.

Coocaa

Funding Round in 2017
Coocaa, established in 2006, specializes in the development of smart TVs and consumer electronics. The company offers a diverse range of products, including gaming TVs, high-end smart TVs, a remote control device for Apple's smartphones that facilitates the remote management of home appliances, Bluetooth game controllers, and Bluetooth earphones. Furthermore, Coocaa is set to introduce an innovative anti-blue light education TV aimed at children, designed to protect their eyesight. Additionally, the company has developed an operating system for smart televisions that enhances Over The Top (OTT) media services, enabling users to access content via high-speed internet and providing advertisers with effective means to reach their target audiences.

Bilibili

Series D in 2017
Bilibili is a Chinese online entertainment platform that provides high-quality content and an immersive experience. Initially focused on anime, comics, and gaming for Generation Z users, it has since expanded its offerings to cater to a broader audience.

Manman app

Series A in 2017
Manman is a mobile comics platform established in Beijing in 2017, specializing in the production and distribution of original comic content. With over 980 titles available, including 315 exclusives, the app has cultivated a user base exceeding 14 million, of which 3 million are active users. Notably, 2 million users maintain more than 20 subscriptions, demonstrating a strong engagement with the platform. Manman aims to generate revenue through paid subscriptions, advertising, and reward systems, enhancing the entertainment experience for its audience by providing diverse and novel comic topics.

Haoliners Animation

Series B in 2017
Haoliners Animation League is a prominent animation production company based in Shanghai, China, established in 2013. The company specializes in the creation and production of 2D animation, with a significant focus on internet-based content. It has developed strong partnerships with various new media platforms, including Tencent Comic and BILIBILI, and has produced a substantial number of domestic 2D animation series, gaining popularity among audiences for both engagement and quality. Haoliners also collaborates with Japanese and Korean animation companies, expanding its reach in the global animation market. With a team experienced in animation production and a commitment to innovative storytelling, Haoliners aims to unite creators in the animation industry and foster the development of domestic animation in China.

Sanook

Acquisition in 2016
Sanook.com, established in 1998 and based in Bangkok, Thailand, is a prominent Internet brand that serves as the most trafficked online destination for Thai users. As a comprehensive web directory, it provides a wide array of services, including search capabilities, a marketplace, entertainment, news, community services, communication tools, and social networking features. Sanook! also engages in mobile services, online advertising, and search marketing, solidifying its position as a key player in the digital landscape of Thailand. The platform, a subsidiary of the MIH Group, which is part of the larger multinational media company Naspers Limited, has become an integral part of the online experience for many users in the region.

Bona Film Group

Private Equity Round in 2016
Bona Film Group is a Chinese film distributor with an integrated model that spans distribution, production, exhibition, and talent representation. The company distributes films across Greater China, Korea, Southeast Asia, the United States, and Europe; it invests in and produces movies across genres, and it owns and operates about twenty cinemas while managing a roster of Chinese artists.

Douyu TV

Series C in 2016
Douyu International Holdings Limited operates a live streaming platform based in Wuhan, China, focusing primarily on interactive gaming and entertainment content. Founded in 2014, the platform connects various stakeholders, including game developers, professional eSports teams, advertisers, and viewers. Douyu TV features a wide range of live streaming options, encompassing not only video games but also sports, variety shows, music, and travel content. The platform enables users to submit, view, and comment on videos, while also providing features for recording and sharing clips of live broadcasts. Douyu TV plays a significant role in the eSports ecosystem by sponsoring teams and organizing tournaments, positioning itself as a key player in the live streaming and gaming sectors in China.

Tencent Music Entertainment

Acquisition in 2016
Tencent Music Entertainment is China's leading online music entertainment platform, operating the top four music mobile apps. It offers integrated services including online music, karaoke, live streaming, and social features, serving over 800 million users across diverse demographics.

YG Entertainment

Post in 2016
YG Entertainment Inc. is a South Korean talent development and production company founded in 1996 by Yang Hyun Suk. Originally named Hyun Entertainment, it rebranded to YG Entertainment in April 2001. The company has played a significant role in popularizing hip-hop music in Korea and has been the launching pad for numerous successful artists, including BIGBANG and 2NE1, as well as earlier acts like JINUSEAN and 1TYM. YG Entertainment not only focuses on music but also provides content services and manages a diverse roster of artists and actors, fostering a collaborative environment that encourages the exchange of ideas in music, fashion, art, and culture. The company's unique approach has made it a prominent figure in the South Korean entertainment industry.

Beijing Weiying Technology

Series C in 2016
Founded in 2014 by David Lim, Beijing Weiying Technology specializes in developing and operating the online movie ticket booking platform 'WePiao', integrated within WeChat. Collaborating with over 2000 cinemas nationwide, including Wanda's chains, the company aims to expand its services to other entertainment sectors such as performances and sports events.

Xiaohongshu

Series C in 2016
Xiaohongshu, founded in 2013 and based in Shanghai, China, is a lifestyle sharing platform that allows users to share experiences through text, images, and videos. Initially aimed at assisting overseas travelers with shopping, it has transformed into a vibrant community focused on various lifestyle areas, including cosmetics, fashion, food, travel, entertainment, reading, fitness, and childcare. The platform serves as a social e-commerce space where users can post their favorite products, share shopping experiences, and discover global merchandise, particularly in luxury and beauty sectors. By fostering user-generated content, Xiaohongshu encourages a collaborative environment for lifestyle enthusiasts to exchange insights and recommendations.

Douyu TV

Series B in 2016
Douyu International Holdings Limited operates a live streaming platform based in Wuhan, China, focusing primarily on interactive gaming and entertainment content. Founded in 2014, the platform connects various stakeholders, including game developers, professional eSports teams, advertisers, and viewers. Douyu TV features a wide range of live streaming options, encompassing not only video games but also sports, variety shows, music, and travel content. The platform enables users to submit, view, and comment on videos, while also providing features for recording and sharing clips of live broadcasts. Douyu TV plays a significant role in the eSports ecosystem by sponsoring teams and organizing tournaments, positioning itself as a key player in the live streaming and gaming sectors in China.

Linmon Pictures

Series B in 2016
Linmon Pictures is an independent entertainment studio that creates, produces, and distributes original content. The studio specializes in drama series and has a strong track record of producing high‑viewership shows in Mainland China, drawing on a substantial library of original intellectual property. Its operations focus on delivering premium content to Chinese audiences, generating the majority of its revenue from that market.

ACGG

Series B in 2016
ACGG is an animation, gaming and domestic comic distribution platform.

Beijing Weiying Technology

Series C in 2015
Founded in 2014 by David Lim, Beijing Weiying Technology specializes in developing and operating the online movie ticket booking platform 'WePiao', integrated within WeChat. Collaborating with over 2000 cinemas nationwide, including Wanda's chains, the company aims to expand its services to other entertainment sectors such as performances and sports events.

Whaley Technology

Venture Round in 2015
Whaley Technology Co Ltd., established in 2015 and headquartered in Shanghai, China, specializes in manufacturing and developing innovative internet-based home entertainment solutions. The company's product portfolio includes smart televisions, micro projectors, virtual reality helmets, smart television software, Wi-Fi smart stereos, and smart furniture, catering to the evolving preferences of the 'micro-whale generation' – the first generation of Chinese internet natives.

Beijing Weiying Technology

Series B in 2015
Founded in 2014 by David Lim, Beijing Weiying Technology specializes in developing and operating the online movie ticket booking platform 'WePiao', integrated within WeChat. Collaborating with over 2000 cinemas nationwide, including Wanda's chains, the company aims to expand its services to other entertainment sectors such as performances and sports events.

VC Mobile Entertainment

Venture Round in 2015
VC Mobile Entertainment Inc. is a game development company that specializes in creating mobile, PC, console, and online games. Founded in 2014, the company is headquartered in Los Angeles, California. With a focus on delivering engaging gaming experiences, VC Mobile Entertainment aims to cater to a diverse audience across various platforms.

Linmon Pictures

Series A in 2015
Linmon Pictures is an independent entertainment studio that creates, produces, and distributes original content. The studio specializes in drama series and has a strong track record of producing high‑viewership shows in Mainland China, drawing on a substantial library of original intellectual property. Its operations focus on delivering premium content to Chinese audiences, generating the majority of its revenue from that market.

175game.com

Angel Round in 2014
175game.com is an internet technology enterprise that develops, operates online games, and provides various online entertainment methods. They have game development, research, and operational staff. Their products include king of the three kingdoms, crazy kukum, spirit mountain romance, and more.

TapZen

Venture Round in 2014
TapZen, founded in 2012, is a game development company focused on creating engaging mobile applications for tablets and smartphones. With studios located in Los Angeles and San Francisco, TapZen is comprised of dedicated game makers who prioritize crafting innovative and enjoyable experiences for players. The company is committed to high production values and aims to ensure accessibility and depth in its games. Central to TapZen's philosophy is player empathy, as the team not only creates games but also actively participates in the gaming community, fostering a connection with its audience.

STX Entertainment

Venture Round in 2014
STX Entertainment is a global media company that develops, finances, produces, markets, and distributes film, TV, VR, music, and live entertainment content. Led by Robert Simonds, the company leverages strategic partnerships to maximize worldwide content impact.

Longzhu TV

Series A in 2014
Longzhu TV is a multimedia platform specializing in live streaming services that encompass a wide range of content, including digital games, e-sports, and e-commerce. The company has established strategic partnerships with prominent gaming leagues, such as the Heroes Union Professional League and the CrossFire TV Professional League, securing rights to broadcast major gaming events. Additionally, Longzhu TV has exclusive broadcasting agreements with notable gaming figures, including the renowned player Faker, and top professional teams, enhancing its reputation in the gaming community. By offering interactive experiences for users, Longzhu TV connects audiences with diverse content and streamers, positioning itself as a unique platform in the entertainment landscape.

Sanook

Private Equity Round in 2010
Sanook.com, established in 1998 and based in Bangkok, Thailand, is a prominent Internet brand that serves as the most trafficked online destination for Thai users. As a comprehensive web directory, it provides a wide array of services, including search capabilities, a marketplace, entertainment, news, community services, communication tools, and social networking features. Sanook! also engages in mobile services, online advertising, and search marketing, solidifying its position as a key player in the digital landscape of Thailand. The platform, a subsidiary of the MIH Group, which is part of the larger multinational media company Naspers Limited, has become an integral part of the online experience for many users in the region.

Utaite

Utaite is a company that operates an entertainment platform. Its core business involves planning, producing, and developing entertainment content to support and promote content creators. The platform aims to enhance creators' self-actualization, improve fan experiences, and facilitate growth on social media. Utaite provides constant support to creators, maximizing opportunities to engage and satisfy their fan base.
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