Yunfeng Capital and Dalian Wanda Lead an RMB800 Million Financing Round for Letv Sports (Asia)

Source: China Money Network

China-based online video company Leshi Internet Information & Technology’s sports affiliate, Letv Sports Culture Develop, has raised RMB800 million (approximately US$131 million) from China-focused private equity firm Yunfeng Capital, China-based conglomerate Dalian Wanda Group and other undisclosed investors. The round valued Letv Sports at RMB2.8 billion (approximately US$458 million). Letv Sports plans to use the capital injection to purchase more content for its online sports video streaming business.