Funds bemoan lack of worthy projects
By Cai Xiao | China Daily | Updated: 2013-05-02 05:00
Despite increased investment in recent years in a healthy number of funds focusing on China's booming cultural sector, the number of worthy deals being identified is reported to have dried up, according to experts.
According to a new report by ChinaVenture Group, which provides advice to China-focused investment banks and institutions, 92 cultural industry investment funds have been created in China since 2007.
Thirty-six of them are still open to new investment, but 56 now say they are closed to any new fundraising as there are too few deals available to invest in.
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