Caixin
BUSINESS & TECH

China Media Capital Takes Stake in Formula E Holdings

By Sun Baishan, Liao Yuanxin and Han Wei

(Beijing) -- China Media Capital, a private equity and venture capital firm, made an investment in Formula E Holdings, the official promoter of FIA Formula E Championship auto racing.

CMC, founded by media mogul Li Ruigang, made the investment in partnership with SECA, a sports marketing company in which CMC holds a stake, SECA told Caixin Tuesday. The companies didn’t disclose financial details, but CMC said the investment was in the “tens of millions of euros.”

You've accessed an article available only to subscribers
Try 4 weeks for $0.99
SUBSCRIBE
Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.