Following the establishment last June of the Meridian Suzhou Cultural Fund – its first Reminbi fund in China – with SND Ventures Group, Meridian Capital, a Singapore-based private equity fund, again partnered with Changshu Southeast Economic Development Zone and founded the Meridian Southeast Cultural Fund – its second Reminbi fund in China. The signing ceremony was held on February 23 in Changshu.
Meridian Capital is among the few cultural investment equity institutions active in China. Its principal managers are leading figures in internet media investments, with successes in classic projects such as Ctrip, Homeinns, Sina, Allyes, Focus Media, and Eastmoney. The inception of its first Reminbi fund marks Meridian's active move toward the mobile internet field.
It is reported that RMB 200 million will be raised initially for the Meridian Southeast Cultural Fund. Based on its rich experience and outstanding performance in cultural investments, Meridian, relying on rich culture and tourism resources and a healthy economic environment in the area, will make sustained investments in films, music, mobile Internet, tourism and other areas.
In addition, Meridian Partners Xiong Xiangdong and Ji Wei have a great appreciation for Changshu's fame in the southern reaches of the Yangtze River area due to its rich cultural history, beautiful mountain landscapes and abundant resources. Lake Shang, an essential part of the Taihu National Scenic Area, ranked among “China's Top Ten Recreational Lakes” in 2010 for its beautiful landscapes. Aside from investing in its specialized internet media, Meridian Capital also hopes to drive Changshu's business and economic growth through this partnership by integrating Lake Shang's diverse cultural and tourism resources.
