Beijing’s ALAN AMC set to tie up with Bloomage to establish $143m fund

Beijing, China. Source: Li Yang/Unsplash

Beijing-headquartered ALAN AMC is set to forge a partnership with Bloomage International Group to launch an industry fund to focus on investments in culture and sports industry.

Both parties have inked an agreement for the same. The size of the proposed fund is expected to be 10 billion yuan ($1.4 billion).

ALAN AMC and Bloomage International will be its cornerstone investors, ALAN AMC announced on WeChat.

The fund will help the firms support existing projects, besides exploring investments in competitive cities in the country.

ALAN AMC, established in 2016, claims to have a registered capital of 1.7 billion yuan ($246 million). It operates businesses across sectors such as fashion, realty, and consumer finance, among others. Its majority shareholders include SZ-listed Lancy, Korean Hana Financial Group’s subsidiaries KEB Hana Bank and Hana Financial Investment.

Apart from Beijing, ALAN AMC has offices in Shanghai and Hong Kong.

According to another press release issued recently, ALAN AMC participated in Chinese anti-tumor drug maker Haihe Biopharma’s 1.2 billion yuan ($171 million) Series B round in July.

Set up in 1989, Bloomage International is a privately-held giant that has two flagship business lines under culture and sports, and healthcare and beauty, respectively. It has over 10 billion yuan ($14 billion) in assets under management.

Its stadium Cadillac Arena will hold a hockey tournament in 2022 Beijing Winter Olympic Games.

Of late, a string of Chinese companies has forged partnerships to launch culture and sports-based industrial investment fund. In July, Hong Kong-listed Chinese marketing solution provider Activation Group made headlines when it tied up with state-owned investment platform Shanghai Innovital Capital Investment Management to set up a 1 billion yuan ($143 million) sports and entertainment industry fund.  Earlier in March, top cinema group Guangzhou Jinyi Media, along with Tianjin Jinyi Investment Management, announced its plans to establish an 800 million yuan ($112 million) culture driven industry fund.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.