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Abby Wang

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Homepage: http://www.chinamoneynetwork.com

Chinese Internet giant Tencent Holdings Limited announced that it had established Penguin Pictures to lead its movie production effort. Penguin Pictures plans to invest in 10 to 15 movies every year. According to Chinese media reports. Penguin Pictures has already jointly produced and invested in around ten movies, including the Little Door God, an animation

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NeoBear, an early childhood education start-up, has completed RMB120 billion (US$19 million) series A round of financing led by GGV Capital, according to Chinese media reports. Qualcomm, Sinolink Securities Co., Ltd., Haitong Kaiyuan Capital, Liuhe Capital also participated. The company says it will use the proceeds on technology development, content and marketing expansion. Founded in

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Aurora Private Equity, an investment firm founded by former executives from CDH Venture and Dalian Wanda Group, has completed raising RMB1 billion (US$157 million) to back public and private companies in China's new economy, according to Chinese media reports. The new investment vehicle, named Aurora New Economy M&A Fund, will focus on investing in the

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Baring Private Equity Asia has acquired a 40% stake in U.K.-based manufacturer of cereals and cereal bars, Weetabix Food Company, to help the company expand in China, according to a company announcement. Deal price and other details are not disclosed, but earlier media reports indicated that Weetabix could be valued at around US$1.9 billion including

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