Dec 14, 2016 07:21 PM

China Fund Buys 20% of French Soccer Club, Forms Joint Venture

IDG Capital Partners founding general partner Xiong Xiaoge (second from left) and Olympique Lyonnais President Jean-Michel Aulas (second from right) stand with French Ambassador to China Maurice Gourdault-Montagne (right) and IDG Capital Partners venture partner Li Jianguang during a ceremony in Beijing on Tuesday. The ceremony formalized Chinese investment fund IDG Capital Partners' taking a 20 percent stake in Olympique Lyonnais. Photo: Greg Baker/Visual China

(Beijing) — Chinese venture fund IDG Capital Partners will form a sports-services joint venture with French soccer club Olympique Lyonnais in an equity tie-up that reflects China’s growing interest in European soccer.

As part of the tie-up, IDG Capital will also pay 100 million euros ($106 million) for 20% of Olympique Lyonnais Groupe, the owner of the Lyon-based club.