China Media Capital Invests in California-based VR Start-up

(Beijing) – China Media Capital, a private equity and venture capital firm, has invested in a California-based virtual reality start-up NextVR Inc., marking its second investment in the nascent technology in less than 10 months.

China Media Capital (CMC), controlled by Chinese media mogul Li Ruigang, said in a statement on August 8 that it invested an undisclosed amount in NextVR during its second round of funding where the startup plans to raise US$ 80 million.