TikTok-owner ByteDance sets up FOF team as it steps up efforts in dealmaking

TikTok-owner ByteDance sets up FOF team as it steps up efforts in dealmaking

Source: ByteDance

ByteDance, the Chinese owner of short-video platform TikTok, has set up a fund of funds (FOF) team as it gears up to invest in new profit generators to strengthen its own operation in the market.

The Chinese firm was earlier in the market to recruit a director-level fund manager with expertise in US dollar fund management and FOF management for its offices in the US or Singapore, according to a month-long old LinkedIn job post from ByteDance.

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