Alibaba Pictures, the Alibaba-backed entertainment firm, announced the launch of a $300 million USD investment fund on Monday, aimed at building assets across the television and film production chain.

The Hainan Pictures Entertainment Industry Investment Fund will be managed by China-based Wuhu Gopher Asset Management, a division of Noah Holdings Ltd.

In 2013 Gopher Asset Management participated in a similar 1 billion yuan ($150 million USD) fund on behalf of Bona Film Group, together with Alibaba stakeholder Sequoia Capital.

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com