Sequoia China and China Media Capital (CMC) announced on Monday to set up a special sports fund to invest in global premium sports projects.

The first-phase fund has been completed, according to reports.

Massive growth potential exists in the sports sector in China. In 2014, the value added in the sports industry exceeded 420 billion yuan (60.8 billion US dollars). It is estimated that China's sports industry scale will surpass 5 trillion yuan (723.4 billion US dollars) by 2025.

CMC have invested in City Football Group, the owner of football related clubs and businesses including Manchester City, New York City, Melbourne Citysports agencies and others and Chinese sport event management firm Ti’ao Power.

The establishment of the sports fund indicates that CMC will continues to capitalize on opportunities in China's sports sector.

Email: gaohan@nbd.com.cn