China Digest: Dianxiaomi, VSPN in funding news
Summary
In a separate development, Tencent-backed Chinese esports solutions provider VSPN has raised ‘tens of millions of US dollars’ in its Series B2 round from Morgan Stanley. Existing investors GGV Capital and Chinese alternative asset manager CDH Investments made a follow-on funding. Tencent-backed Chinese esports solutions provider VSPN has raised ‘tens of millions of US dollars’ in its Series B2 round exclusively from Morgan Stanley Private Equity Asia (MSPEA). With the fresh proceeds, VSPN aims to extend its global business presence, besides expanding esports content product base, the provider said in a statement. “Over the past 28 years we have been active investors in China….we are optimistic about esports, a young and booming industry,” said MSPEA executive director Ivan Chan in the statement.