<article>Singapore-based private equity fund <a href="http://www.dealstreetasia.com/?s=Tembusu+partners" target="_blank">Tembusu partners</a>, China’s NASDAQ-listed<a href="http://www.bonafilm.cn/" target="_blank"> Bona Film Group</a> and local media entrepreneur Calvin Cheng have come together to float a $100 million media fund that that will target China.</article>

Singapore-based private equity fund <a href="http://www.dealstreetasia.com/?s=Tembusu+partners" target="_blank">Tembusu partners</a>, China’s NASDAQ-listed<a href="http://www.bonafilm.cn/" target="_blank"> Bona Film Group</a> and local media entrepreneur Calvin Cheng have come together to float a $100 million media fund that that will target China.
The trio made the announcement during the Singapore Media Festival, Wednesday when they signed the memorandum of understanding in the presence of Minister for culture, community and youth and the second minister for communications and information, Lawrence Wong.
Based out of Singapore, this closed-end five-year media fund is set to be formalised by 31 March 2015. Its anchor investors will include the Bona Film Group and Thailand’s <a href="http://www.chiataigroup.com" target="_blank">Chia Tai Group</a>. Bona is China’s largest private film distributor.
This will also be the “the first such non-Reminbi denominated fund to invest in China’s media and entertainment industry.”
“Singapore is a perfect place to launch this fund as it is not only a financial capital of the world, but also as the place where East meets West. This fund will allow foreign investors to participate in the fastest growing media and entertainment market in the world.
China’s media and entertainment industry is forecast to overtake Japan’s by 2018, and become the second-largest in the world, behind the US. It is already the second-largest film market in the world. China’s TV industry is set to surpass the UK and Germany by 2016 to become the second-largest behind the UK. This phenomenal growth in China will create many exciting investment opportunities,” Bona chairman Yu Dong said.
Adding to this, entrepreneur Calvin Cheng, regarded as the main force in bringing investors together for this fund, said, “I am excited about the establishment of this fund in Singapore and the boost it will bring to Singapore’s media industry. The existing film and TV co-production agreement between Singapore and China opens up opportunities for the fund to invest in projects that involve Singapore-based media companies. In addition, we will be looking at media companies globally that have a ‘China-story’; with the convergence of traditional media with the internet, there will be many exciting new opportunities that will emerge from the vast Chinese landscape, and we will be looking to invest in the best of them. ”
Image:<a href="http://www.freedigitalphotos.net/images/balance-dollar-and-question-mark-with-businessman-photo-p181788">Freedigitalphotos.net</a>

Tembusu Partners, Bona launch $100m media fund

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Tembusu Partners, Bona launch $100m media fund

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