China Digest: Tencent leads $30m Series C in Yonghong Tech, Focus Media eyes $300m for four new investment funds

China Digest: Tencent leads $30m Series C in Yonghong Tech, Focus Media eyes $300m for four new investment funds

Visual from company website

In separate business developments in China, a unit of Tencent Holdings Ltd led a $30 million (RMB200 million) Series C round in big data analytics startup Yonghong Tech, while advertising firm Focus Media has formed four new investment funds.

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