World’s most valuable unicorn ByteDance mulls $1.45bn venture fund

By Olivia Minnock
Chinese media software company ByteDance is in talks to secure $1.45bn for its first ever venture fund, it has been reported. According to The Informa...

Chinese media software company ByteDance is in talks to secure $1.45bn for its first ever venture fund, it has been reported.

According to The Information, potential investors may include some major Chinese government-led funds and state-owned investment banks.

See also:

Connecting the world: the future of blockchain

HCL signs global IT partnership with Nokia

Read the latest issue of Gigabit Magazine

The fund will centre around AI and media content and it is hoped it will help build relationships with startups and help the company to explore new technologies.

ByteDance became the world’s most valuable startup earlier this year, with a current value of around $75bn. It owns around 10 apps including TikTok, having purchased popular app musical.ly and merged it with TikTok earlier this year to bring together around 600mn users.

Share

Featured Articles

Rich investors drawn to digital assets despite crypto crash

The world’s wealthiest people are sold on the concept of digital assets, as a new survey shows they are being used to construct more resilient portfolios

Five minutes with: Katie Nykanen, Group CTO at QA

Katie Nykanen, CTO at QA, on being a role model for girls and young women and her hopes for the future

Big business bets on real-time data and event-streaming tech

By 2025, 90 per cent of the world’s largest companies will use real-time intelligence to improve customer experience and other areas, new research predicts

Mind your language: Is NLP a natural fit for the Metaverse?

AI & Machine Learning

Cyberattacks make a big difference to manufacturing profits

Cloud & Cybersecurity

ICYMI: Space blockchains and 6G predictions for the future

Digital Transformation