The Chinese media company Toutiao paid US$1 billion to acquire the Shanghai-based video-sharing application start-up Musical.ly. Photo: Bloomberg

Chinese hedge fund’s venture capital bets on start-ups yields returns of more than US$1.3b

Investments that paid off handsomely for venture capital funds started by ChinaRock Capital Management include tech start-ups Musical.ly and Youku

Topic |   Venture capital market

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The Chinese media company Toutiao paid US$1 billion to acquire the Shanghai-based video-sharing application start-up Musical.ly. Photo: Bloomberg
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