China’s ByteDance to raise about US$1.45 billion for its venture fund

  • The world’s most valuable start-up is in talks with investors including major Chinese government-led funds and state-owned investment banks

The headquarters of ByteDance, the world’s most valuable start-up, in Beijing. Photo: Bloomberg

ByteDance, the world’s most valuable start-up, is in talks to raise about US$1.45 billion to invest in artificial intelligence and media content, according to a report by The Information on Friday.

The Beijing-based company, which runs news aggregation site Jinri Toutiao and video app Douyin (known as Tik Tok outside mainland China), is in talks with investors including major Chinese government-led funds and state-owned investment banks, the report said.

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