Shunwei, CCV back Next Generation and 16 more deal updates from Greater China

Shunwei, CCV back Next Generation and 16 more deal updates from Greater China

Virtual synthetic character developer Next Generation has secured ‘millions of US dollars’ in its Series A round of financing led by China Creation Ventures, an early-stage investment firm that has backed industry players like JD.com, CreditEase, and Asia Innovations Group. 

Return backer Shunwei Capital also joined the round. Shunwei had exclusively made a similar-sized investment for Next Generation’s pre-A round in October 2020, the investor said in a WeChat post on Monday. 

The startup plans to allocate the proceeds to spruce up programmes linking to virtual human products and their commercialisation. 

The Beijing-headquartered Next Generation uses virtual synthetic characters to create immersive and entertaining content including animation, music, and web series. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on July 23-26, 2021.