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Shankai Sports Receives $45M Series B Investment From Yao Capital

Beijing-based sports marketing company Shankai Sports received a $45M Series B investment from private equity firm Yao Capital, founded by Yao Ming and investor David Han, the former managing director of The Carlyle Group, according to Juliet Shwe Gaung of DEAL STREET ASIA. Shankai Sports provides sports sponsorships, event management and authorization services and has partners including the IOC, FIFA and UEFA. It also recently signed an agreement to manage the operations of PGA Tour China. Shankai Sports will handle PGA Tour China’s new series for a 20-year period starting in '18. Yao Capital is a "private equity investment firm" focused on sports-themed opportunities both in China and globally (DEAL STREET ASIA, 12/10).

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