Chinese investor plans $500m digital media fund

Chinese media investor Bruno Wu is planning to raise US$500 million in private equity for internet and media investments in East Asia, The Wall Street Journal reported. The fund will invest in small to medium internet, digital media and e-commerce companies that “need China for the next wave of expansion,” Wu said. Last year, Wu started a US$800 million China-based fund with Harvest Alternative Investment to fund big studio projects that appeal to the Chinese market. There have been more than 300 deals totaling almost US$10.3 billion in China since 2009, according to Dealogic figures.