In brief: Bytedance in talks to secure a $1.45b venture fund

China’s Bytedance is said to be in talks to secure US$1.45 billion (10 billion yuan) for its first venture fund to invest in AI and media content. Potential investors may include major Chinese government-led funds and state-owned investment banks.

Building closer relationships with state-backed investors could be beneficial for the company, said the report. This comes on the back of increased scrutiny on Bytedance’s apps in China by the country’s regulators.

Source: The Information