Read on: TheWrapTheWrap
DMG Entertainment’s investment arm, DMG Capital Group, announced Monday that it is investing $300 million in entertainment, tech and media with a focus on the Chinese market.
DMG Capital Group plans to team up with entrepreneurs, business operators and private equity or venture capital firms looking to grow internationally, particularly in China, the world’s second-largest box office and a territory DMG’s executives know well. The company will target investments in immersive media, gaming, licensing, film, television (including internet TV as well as traditional pay TV and free TV), e-commerce and mobile platforms, as well as software and services tied to media, entertainment and communications industries.
“We’re committed to partnering with the best and brightest innovators and taking them to the next level as we leverage our strategic insights and experience to help them grow,” DMG Founder Dan Mintz said in a statement.
Mintz founded Beverly Hills-based DMG in 1994 and has since turned it into a global media conglomerate with its hands in everything from movies, TV, comic books and gaming. Its studio has been a producer on films including sci-fi time travel movie “Looper” and Disney’s Marvel Cinematic Universe blockbuster “Iron Man 3,” which grossed $1.2 billion worldwide. DMG is teaming up with James Cameron later this year for an immersive 3D special edition of the director’s 1991 cult classic “Terminator 2.”
The company’s Chinese division, DMG Yinji, is publicly listed in China with a valuation in excess of $6 billion. The company also recently launched a virtual reality unit, DMG VR, with Arcturus as that division’s first incubated company.