Chinese sportswear brand, PEAK Sports, has signed a deal with Xiamen Culture and Broadcast Media Group, which will see the two sides set up the PEAK-Xiamen Culture and Broadcast Industry Investment Fund.

According to media reports, the first stage of the fund is valued at one billion yuan and will be led by the two partners along with other financial institutes and investors. The fund has also reached strategic cooperation with famous Chinese securities traders, investment banks and law firms.

The fund aims to help sports business development, mergers and acquisitions, and multi-brand operations. The fund will also be used to invest in companies that focus on sports events operation, sports lottery, sports rehabilitation, sports tourism, big data, smart tech, sports training and eSports.

Additionally, Sports real estate, sports towns, national fitness centers, facility support operations, film and television production, sports convention and exhibition, and Pan-cultural entertainment are also of future interest of the fund.

Source: Sohu

Proofread by William Logsdon