Ledman Optoelectronic, their controlling shareholder Li Mantie and Kaixing Capital have announced a partnership to set up a new sports industry fund worth up to 500 million yuan ($80.54 million).

Ledman Optoelectronic has been committed to the development of Chinese soccer industry since 2011 when it became the strategic partner of Chinese Football Association officially sponsoring Chinese Super League (CSL). Now it also serves as the official sponsor of a club in China League One (CLO). 

After profound cooperation with Chinese football leagues in the past five years, Ledman Optoelectronic now becomes the business operator of CSL and CLO. 

It is now leveraging its first-mover advantage in Chinese soccer industry to integrate soccer-related resources across the whole sports industry through capital operation, investment and company acquisition. 

The newly established sports industry fund will serve as a key platform for Ledman Optoelectronic to constantly complete a portfolio of quality assets in sports culture, Internet and sports technology field, and ultimately to improve its profitability and core competitiveness.

Source: lohas.china