<article><a style="color: #333399;" href="http://www.dealstreetasia.com/?s=Sequoia" target="_blank">Sequoia Capital China</a>, and <a style="color: #333399;" href="http://www.dealstreetasia.com/?s=cmc+holding" target="_blank">CMC Holdings</a> have formed a sports investment joint venture to fund and consolidated global premium sports assets.</article>

<a style="color: #333399;" href="http://www.dealstreetasia.com/?s=Sequoia" target="_blank">Sequoia Capital China</a>, and <a style="color: #333399;" href="http://www.dealstreetasia.com/?s=cmc+holding" target="_blank">CMC Holdings</a> have formed a sports investment joint venture to fund and consolidated global premium sports assets.
The new vehicle completed its first closing but financial details were not disclosed, the China Money Network reported on Monday (March 13).
Massive growth potential of the sports sector in China prompted the creation of the sports-focused fund and the venture partner companies are aiming to consolidate global premier sports assets and expanding them in the Chinese market.
Also Read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/chinas-cmc-capital-partners-invests-formula-e-holdings-65049/" target="_blank">China’s CMC Capital Partners invests in Formula E</a>
The fund already backed Chinese eSports game operator Hero Sports, and also led a series A financing round for Beijing Wanmingyang Media, a Chinese boxing event operator and video platform.
Both Sequoia Capital China and CMC Holdings have made their respective investments in sports in the past years. Sequoia invested in many Chinese sports companies like sports lottery firm 500.com, sports video platform Douyu TV and ImbaTV.
CMC Holdings and its affiliate <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=China+Media+Capital" target="_blank">China Media Capital</a> have invested in City Football Group, the owner of football related clubs and businesses including Manchester City, New York City, Melbourne Citysports agencies and others, Chinese sport event management firm Ti&#8217;ao Power, sportswear firm Meike International, sports marketing firm SECA, and sports data firm Cubee Technology, the CMN report added.
CMC Holdings is an investment holding company founded by Chinese media mogul and former Shanghai Media Group chief Li Ruigang.
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In 2014, China&#8217;s State Council projected that the market size of the country&#8217;s sports sector will grow more than $724 billion (RMB5 trillion) by year 2025.
In that same year, the Chinese sports sector contributed 0.6 per cent to the country&#8217;s GDP, much lower than the global average of 2.1 per cent and 2.9 per cent in the US, according to the companies&#8217; announcements as noted by CMN.
Also in 2014, a total of 380 million people participated in local sports activities. The rise of the young consumers are bringing growth in sports consumption, including gym memberships, sports event participation and sports media consumption.
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Sequoia China, CMC Holdings form sports investment JV

Sequoia China, CMC Holdings form sports investment JV

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