Shunwei, CCV back Next Generation and 16 more deal updates from Greater China

Virtual synthetic character developer Next Generation has secured ‘millions of US dollars’ in its Series A round of financing led by China Creation Ventures, an early-stage investment firm that has backed industry players like JD.com, CreditEase, and Asia Innovations Group. 

Return backer Shunwei Capital also joined the round. Shunwei had exclusively made a similar-sized investment for Next Generation’s pre-A round in October 2020, the investor said in a WeChat post on Monday. 

The startup plans to allocate the proceeds to spruce up programmes linking to virtual human products and their commercialisation. 

The Beijing-headquartered Next Generation uses virtual synthetic characters to create immersive and entertaining content including animation, music, and web series. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on July 23-26, 2021. 

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