Sony announced the establishment of a new fund in the African entertainment industry to support the development of startups in games, music, movies and other fields

According to news from this site on October 12, Sony announced the establishment of "Sony Innovation Fund: Africa" ​​(Sony Innovation Fund: Africa) on October 11 to support the development of African entertainment companies.

Source Sony

According to the statement, the new fund will invest in seed-stage to early-stage startups in the African entertainment industry, including games. , music, film and content distribution fields. Sony will initially allocate US$10 million for such investment (note on this site: currently about 73 million yuan).

Since its inception, Sony Innovation Fund has supported the business growth of its portfolio companies by providing partnership opportunities, including the provision of Sony-owned technology, joint development and business alliances. Through Sony Innovation Fund: Africa, Sony will continue to make value-added investments and will consider expanding this activity based on its progress.

Sony also signed a cooperation agreement with the International Finance Corporation (IFC), which aims to actively invest in emerging countries, including African startups. In addition to financial investment, this cooperation will give full play to the advantages of both parties and jointly support the development of the African entertainment industry

Advertising statement: This article contains external jump links (including but not limited to hyperlinks, QR codes , password, etc.), aiming to provide more information and save screening time. However, please note that the results of these links are for reference only. Please note that all articles on this site contain this statement

The above is the detailed content of Sony announced the establishment of a new fund in the African entertainment industry to support the development of startups in games, music, movies and other fields. For more information, please follow other related articles on the PHP Chinese website!