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.”

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