SHANGHAI - The 21st Century Media Group and Shanghai International Mergers & Acquisitions Fund have co-established a $2 billion fund that aims exclusively at investing in Greece. This news was announced by Wang Yunfan, vice editor in chief of 21st Century Business Herald at a press conference during the Investment and Privatization in Greece Forum held on Nov. 30.

This fund was an innovation concerning the link between media and finance. 21st century media group and Shanghai International Group aim to create a one-stop service platform for industries and capitals. The platform will include a world-class general advisory board including first-class law firms, world-renowned management consulting firms and other first-class advisory institutions.

“Most Chinese industrial companies still lack experience to direct invest in overseas countries,” said Wang. “Therefore the fund is an innovative channel to link up industry and finance.”

On the industrial side, China’s private-owned Fosun Group, which has successfully invested in Follie Follie in Greece, led the investment. On the financial side, Shanghai International Mergers & Acquisition Fund controlled by Shanghai International Group led the investment.

Shen Hao, CEO of 21st century media group and Cheng Baoliang, manager of Shanghai International M&A Fund signed a memorandum of the agreement on the press conference.