A Chinese private equity firm has set up a fund to invest in promising film projects and help train film industry talent.
Yung Park Evergreen Entertainment Fund was launched in Beijing on Tuesday. It is a private equity fund for entertainment investment under Penta Global Advisers China (PGA China) and is headed by David Loh, who also runs Yung Park Capital in China.
The Yung Park fund will directly invest in or have strategic cooperation on domestic and foreign films, TV, animation, variety show, internet films and drama projects, while also investing to acquire shares of entertainment companies, said Ma Jun, the fund's managing partner, at the launch event.
The fund has signed a strategic cooperation agreement with Youth Film Studio and Heyi Pictures and will support and train film industry talent. It also forms close cooperative relationship with IMAX China, CMC Capital Partners and International Program Content Network (IPCN) as well as Hollywood production partners.
Hollywood producers Stephen Hamel ("Passengers") and Philip Lee ("The Dark Knight" and "The Revenant") attended the launch ceremony, while Chinese actors such as Ge You, Zhang Jiayi and Wang Ziwen sent congratualations via video for Yung Park Evergreen Entertainment Fund.